Skyword Raises US$25 Million as Content Marketing Grows at a Higher Rate
What: Skyword has announced it has raised US$25 million from Rho Acceleration. The proceeds will help accelerate growth and innovation by transforming the way brands connect with consumers and prospects.
Why it matters: Content Marketing continues to grow at a high rate in corporations marketing budgets; according to PQ Media’s Annual Global Content Marketing Forecast 2017, content marketing expenditures will grow at a 14.4% rate from now until 2021. Skyword caters to the content marketing needs of corporations and its investors' bet on the market's growth.
Skyword, a content marketing software and services company, announced that it has raised US $25 million in growth equity from Rho Acceleration, a division of Rho Capital Partners. The company will use the proceeds to accelerate growth and product innovation as it helps transform the way today’s top global brands connect with their customers and prospects.
The company also established an additional US$5 million working capital line with Cambridge Trust.
Founded in 2010, Skyword is a leading content marketing software and services company whose customers have created and published more than one million original stories as articles, videos, images, infographics, podcasts, and animations on the Skyword Platform. These stories have earned Skyword customers more than 1.8 billion visits organically, and Skyword has paid its freelance creatives more than US$27 million on behalf of its customers.
“We are thrilled that Rho Acceleration has recognized that marketers must transform their approach from an ad-centric to a story-centric one. This investment validates that the Skyword Platform, our global freelance network, and our companion services enable Skyword to deliver unmatched offerings to global brands,” said Tom Gerace, CEO of Skyword.
“People are avoiding and blocking interrupt ads and marketing techniques in record numbers. But they’re consuming great content at unprecedented rates. To succeed, marketers must shift their fundamental marketing approach from ad-centric to story-centric. Our content marketing and personalization technologies were designed to support this new marketing approach from the ground-up. We augment our technology with managed services and a global community of freelance creatives, enabling marketers to build relationships with customers and prospects through personalized content experiences that reward customer attention,” added Gerace.
To succeed, marketers must shift their fundamental marketing approach from ad-centric to story-centric.
“Skyword is changing the way marketers build and make authentic connections with their audiences,” said George Bitar, managing partner of Rho Acceleration. “We are excited to partner with Skyword and its management team to accelerate their growth and execute on their vision of marketing transformation.”
As part of the transaction, George Bitar, Doug McCormick and Mark Roehrenbeck of Rho will join Skyword’s Board of Directors.
Skyword was advised by America’s Growth Capital and WilmerHale on the equity transaction and Cafferty & Company on the debt facility.