SmallRivers SA, the Lausanne, Switzerland-based developer of Paper.li, a social news publication application, has raised $2.1m in funding.
Investors include Highland Capital Partners, SoftBank Capital and Endeavour Vision.
In conjunction with the funding, Dan Nova of Highland Capital Partners and Ronald Fisher of SoftBank Capital will join the company’s board of directors.
As stated by Edouard Lambelet, President and CEO of SmallRivers, the company intends to use the new capital to enhance the team, build strong partnerships with major service and content providers, establish operations in the US and Asia, and accelerate growth globally. It is also planning to move part of its team from Switzerland to California and will give more details during 2011.
Launched last summer, Paper.li extracts, aggregates, and organizes social media news and activity streams from Twitter and Facebook into personalized online newspapers.
The company, which was co-founded in 2008 by Edouard Lambelet and Iskander Pols, has raised investments* from two seed funds, Venture Incubator and Kima Ventures, along with business angels.
* 06/07/2010: paper.li Closes Financing Round