Progress Partners Advises Skyword on Investment from Cox Media Group
Progress Partners is pleased to announce that it has served as advisor to Skyword in its latest round of funding. Skyword, a disruptive platform that manages content production, delivery, and analytics, has received a $6 million equity investment from Cox Media Group, a national leader in integrated broadcasting, publishing, direct marketing, and digital media.
Skyword's workflow automation platform enables brands, agencies, and media companies to engage consumers by efficiently producing quality, brand-aligned content that precisely matches the information they seek. Â Skyword's customers include leading brands and media companies such as The Wall Street Journal's Marketwatch.com, Everyday Health, education.com, and numerous others.
Cox Media Group will join existing investors Allen & Company, Progress Ventures, and American Public Media Group. A representative from Cox will join Skyword's Board of Directors. The new funding will allow Skyword to refine its industry-leading platform and expand its reach into new markets.
"Progress Partners has been instrumental in the growth of our business over the past 16 months" said Tom Gerace, Founder and CEO of Skyword. "The team has advised us on new paths to organizational expansion and opened key strategic partnerships, culminating in the investment by Cox. Their digital media and fundraising expertise has been integral to finding the right investor in this current round of funding."
"Thanks to some great early traction with top brands, Skyword is one of the leading platforms for content production and delivery" commented Nick MacShane, Senior Managing Director of Progress Partners. "The company has seen tremendous growth as demand for scalable, high quality content accelerates in the marketplace. The new funding from Cox will position the company to capture an even greater share of the immense content marketing spend, which should eclipse $41 billion in 2012. We look forward to continuing our work with Skyword as they expand their business and accelerate growth."