Analytics company NewsWhip secures $13m in funding

15 Feb 2023

From left: Paul Quigley and Andrew Mullaney. Image: Conor McCabe Photography

The Irish-founded company is hoping to increase in headcount by 50pc over the next two years.

Predictive news analytics company NewsWhip has bagged $13m in funding from AshGrove Capital to further develop its media monitoring platform.

The Irish-founded company develops technology that tracks the performance of news stories across the internet.

Its clients include major news brands Condé Nast, the Washington Post and Associated Press, as well as NGOs and corporate brands like McDonald’s, Pepsi and Ford.

The funding will allow NewsWhip to grow its platform. The company hopes to grow its headcount by 50pc by 2024.

CEO Paul Quigley said he is excited to bring AshGrove Capital on as investors. “Their team recognises the transformation underway in the communication profession, and the unique position NewsWhip has in enabling that transformation,” he said.

“We share a vision where NewsWhip is the real-time eyes and ears of every sophisticated comms department in the world.”

Ilkka Rantanen, co-founder and partner at AshGrove Capital, said the challenges NewsWhip helps to solve are now “more topical for global organisations and critical for real-time responsiveness”.

“Our investment perfectly aligns with the company’s technology-led approach to offer a unique and innovative solution in a growing market and we look forward to supporting the company to further enable communication professionals to be more focused, prepared and reactive to global news events.”

Founded more than a decade ago by Quigley and Andrew Mullaney, NewsWhip has been steadily growing its team and securing funding.

In 2015, the company embarked on a major expansion that included roles in machine learning, design and infrastructure.

In 2017, the company bagged $6.4m in a funding round led by The Associated Press and Japanese newspaper Asahi Shimbun.

In December 2021, NewsWhip announced plans to grow its engineering team on the back of securing $2.5m in debt funding.

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Jenny Darmody is the editor of Silicon Republic