According to a written statement, NewsiT, a Washington, D.C.-based mobile crowd-reporting platform, has raised $500k in seed funding.
Backers include Sandra Kresch, managing director of Golden Seeds, and Chrisman Iribe, CFO of Scaleform and former president and COO of PG&E.
Founded by Melinda Wittstock in 2010, NewsiT engages and rewards people for creating and sharing news, images, and audio on smart-phones, the web and tablets. Anyone can join assignments based on common interests and location, and earn points, badges and rewards for contributing content, sharing and inviting friends to join assignments. Professional journalists, supported by “big data” algorithms, focus assignments and work with contributors to craft and news. Stories are published on NewsiT.net and its apps and syndicated across media content partner sites.
The company will launch its iPhone app at South by Southwest Interactive SxSW HATCH.
FinSMEs
08/03/2012