Newsle, a San Francisco, CA-based a web news discovery engine, raised $1.65m in a Series A financing.
Backers included Advance Publications, Maveron, DFJ,Transmedia Capital and Launny Steffens, as well as existing investor Rockwell Schnabel. In conjunction with the funding, Whitney Shaw, president of American City Business Journals, joined Newsle’s board of directors.
The company intends to use the funds to grow the team (read here) and expand product offerings.
Launched into private beta in January 2011 by Jonah Varon and Axel Hansen, Newsle provides a web app that continuously analyzes articles from over 100,000 sources in real-time and extracts the news that is most relevant for each user and delivers this in a daily email or news dashboard.
Newsle is available today in open beta.