A group of investors led by Georgian Partners is sinking $8 million into Toronto-based social media company Scribble Technologies Inc.
Scribble will use the financing to fund growth in the enterprise market, global expansion, and continued development of its ScribbleLive and Scribble Market solutions, the company said in a statement.
ScribbleLive allows companies to embed a widget in their Web site to create and syndicate rich media content in real-time. The recently launched Scribble Market allows subject-matter experts to sell their content to other properties.
Scribble’s list of customers includes media companies like CBC, Canadian Press, Associated Press and Reuters, along with corporate clients including Rogers and Samsung.
Georgian Partners – which specializes in funding expansion stage software, Internet and information companies – is leading a Scribble investment group that includes Summerhill Venture Partners, Rogers Venture Partners and Export Development Canada.
Georgian’s portfolio includes investments in a number of new media and e-commerce companies, including app developer Polar Mobile, cloud analytics company Razorsight, online retail platform Shopify and and fraud prevention and digital media company 41st Parameter.