OwnLocal, an Austin, TX-based digital agency service that helps local news organizations increase their online revenues, has raised new funding.
The company intends to use the capital to expand its service offerings and market reach.
The round, which brings the total amount raised by the company to around $2m in the last 18 months, was led by WordPress developer Automattic, with follow-on participation from Baseline Ventures. Backers also include the newly-formed $10m John S. and James L. Knight Foundation (Knight Enterprise Fund), 500 Startups, Justin Kitch, founder of Homestead Technologies, and other angel investors.
Founded in 2010 by CEO Lloyd Armbrust, OwnLocal focuses on supporting traditional offline local media outlets, including newspapers, television and radio stations, in making money online with digital monetization tools.
In conjunction with the investment, 500 Startups’ Principal Paul Singh has joined the company as an advisor.