The News Funnel, a New York City-based website that enables business readers to create a customized news funnel based on their preferences, has closed its $1m first round of funding.
Backers consist of a small group of private investors.
Founded by Michael Beckerman, The News Funnel officially launched earlier this year for the real estate industry in Beta after nearly two years in development.
The free site allows users to set their news preferences from a comprehensive list of criteria, creating a customized news stream based on these preferences in one location in real time. Users can also update their settings quickly and easily to change their news views.
The News Funnel has been launched in the New York Metropolitan area with plans to expand nationally and into other business-to-business verticals in the near future.
It currently features nearly 500 business and real estate-focused media sources, as well as content – press releases, market research, blogs, industry events and more – supplied directly by corporations that are signed up for free via the site’s Company News Channel service.