Banjo Raises $16M To Expand Its Real-Time News And Events Platform.
A high visual application and website named Banjo, which allows users to experience breaking news and live events in real time through the eyes of people current in location, has recently announced it has successfully gained $16 million Series B round of financing.
The round was lead by Balderton Capital along with both new and existing participating investors, Blue Run Ventures and Vega Tech Fund, which bought Banjo’s funding to a total amount of $21 million. This recent funding will be used to accelerate their ambitious growing plans by hiring top quality talent, expanding their reaching internationally, and increasing their enterprise platform for media partnerships.
“Banjo has harnessed the pervasive nature of mobile location technology and social platforms to create a unique real time events engine,” said John Malloy, General Partner and Co-Founder,BlueRun Ventures. “For users this means a contextually relevant view of events as they unfold, anywhere, any time. For our media partners this unprecedented real time fusion with relevant social content adds context and extends the value of their offering.”
“In addition to being a destination for consumers, the media business is recognizing Banjo as a critical partner that provides access toon-the-ground content forbreaking news andlive events,” said Roberto Bonanzinga,Partner,Balderton Captial. “We areimpressed Banjo hasbeen working side by side with media companies that include NBC, FOX and BBC to report real time events and news as they happen. This type of adoption is rare for companies at this stage, and I believe this is just the beginning.”
During the previous week, Banjo had launched its first web version of its iOS and Android with an amazing new feature that been dubbed Banjo Rewind. This technology of Banjo Rewind will allow people to search for any past event and look into any specific point in time. Banjo will also be combining its real time location based creation with a full view of its history along with what happened during the time, at any place in the world
“Banjo is changing the way people consume breaking news and experience live events online and on mobile,” said Damien Patton, CEO, Banjo. “Rewind is doing for the Internet what TiVO did for television.We serve a world of people consuming and posting digitally, and now there is a way to marry the past and present in a seamless user experience. Within seconds on Banjo you can get caught up on the latest world event or take a breath to relive a defining moment in sports, news or entertainment history with Rewind.Banjo has become part guilty pleasure, part critical source, and as I see it my job is tocontinue to drive features that enhance the user experience and change the game for our media partners.”