Categories: OLD Media Moves

Biz news site Benzinga closes on $3 million financing round

Business news site Benzinga announced Thursday that it has closed on a $3 million round of financing that will allow it to expand.

The investors include WorldQuant Ventures, an angel investment firm, as well as Cleveland Cavaliers owner Dan Gilbert.

“It’s a testament to the talent of our team and the power of our mission to have such a strong group of investors believing in us,” said Benzinga chief executive Jason Raznick in a statement. “Working with strategic investors of this caliber reinforces Benzinga’s potential to disrupt the way the markets consume information.”

The site said that it will use the money to expand its staff in its main offices in Detroit and New York. It wants to hire data scientists, reporters and editors and developers.

Benzinga’s content is syndicated on 70 websites, including Yahoo Finance and MSN. Its clients include TD Ameritrade and Morningstar.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.