Web developers' data management platform
Gnip Inc. has
closed a $3.5 million second round of funding from its
insider investors, a well-connected group that includes Foundry Group, First Round Capital and SoftTech VC. Gnip was founded by repeat entrepreneur Eric Marcoullier, whose prior startup MyBlogLog Inc. was backed by SoftTech's Jeff Clavier prior to its January 2007
sale to Yahoo! Inc. [
YHOO] The startup, whose name is "ping" spelled backward, quietly
took in $1 million in March.
Gnip's messaging and data portability platform allows developers to connect data among multiple Web services, so that information posted or updated in one place is pushed out to other sites. Its interface is built to connect social media companies and other data providers through their open APIs, allowing faster updates with less crawling from site to site. Gnip will use the funding for continued product development and business development.
The company is pursuing a "freemium" business model, including both free and standard enterprise versions of its software. It's also
inspired by, and named for, an unforgettably loud tabletop
game from the early 1980s.
-- Paul BonanosSee March 14 post from Tech Confidential concerning Gnip's first round of funding
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