Financial news site Seeking Alpha completes $7 million in funding

TALKING BIZ NEWS EXCLUSIVE

Stock market and financial news site Seeking Alpha recently completed a $7 million round of funding, led by new investor DAG Ventures with full participation from existing investors Benchmark & Accel, according to CEO and founder David Jackson. 

“This round provides us with a strong capital base to support our innovation and growth plans for the coming years,” said Jackson in an e-mail.

Jackson also noted that the site has launched a broad content partnership with Nasdaq.com. Nasdaq is the first partner to begin hosting Seeking Alpha news products MarketCurrents and Wall Street Breakfast in addition to numerous opinion pieces from its contributors.

Seeking Alpha recently passed the 2,000 Instablog blog mark. The site launched its Instablogs, which allows anyone to write about stocks and the market, in May, and financial advisers, portfolio managers, newsletter authors, data providers, economists and senior managers have started blogs on the site since then. Some new ones can be found here.

The site, which has about 4 million monthly unique visitors, averages about 250 articles each day and about 1,000 comments. For business journalists, the site is the only provide of free earnings conference call transcripts, posting more than 1,800 each quarter.