Media relations platform Qwoted has closed a $3 million seed round.
The company uses AI to connect journalists with relevant sources and PR pros, helping them to avoid being spammed with pitches that don't match their beats.
Venture capital firm Third Prime led the seed funding round. The round also included investment from Gaingels, Prosek Venture Partners and Vested, as well as a consortium of comms firms that includes Integral, Caliber Corporate Advisers, Haymaker PR, FHS Partners, and Red Lab. Caleb Silver, editor-in-chief of Investopedia; David Siegel, CEO of MeetUp; and Tom Rovak, senior adviser to Fahrenheit 212, also invested.
The cash injection will help Qwoted grow. The company has garnered 40,000 users since its April 2019 launch. It will use the funds to enhance Qwoted's tech capabilities and grow its sales, marketing and media success teams to increase brand awareness and expand reach.
Qwoted is a platform that helps brands and their PR agencies increase media coverage by ensuring content is shared with the right journalists at the right time. It also aims to help facilitate the creation of long-term relationships between the two parties.
Qwoted users include corporations and banks such as Salesforce, IBM and Bank of America, PR agencies like Edelman, Weber Shandwick and BCW, and academic institutions such as the University of Southern California and New York University.