88m series 241m lundentechcrunch
In November 2021, Piano, a leading digital worddocx content monetization platform, announced that it had secured $88 million in a Series C funding round, bringing its total funding to $241 million. The round was led by Updata Partners, with participation from Rittenhouse Ventures, LinkedIn CEO Jeff Weiner, and multiple other investors.
Founded in 2010, Piano helps publishers and media companies monetize their digital content through a range of tools and services, including paywalls, subscriptions, and audience analytics. The platform is used by hundreds of hdxwallpaper publishers worldwide, including Business Insider, The Wall Street Journal, and The Economist.
With the new funding, Piano plans to expand its offerings and reach new markets. Specifically, the company aims to invest in its AI and machine learning capabilities, enhance its customer experience, and expand into new verticals beyond media and publishing.
Piano CEO Trevor Kaufman stated, “We’re thrilled to have Updata Partners and Rittenhouse Ventures join us on our mission to empower telesup publishers and brands with the tools they need to drive their businesses forward. This investment will enable us to continue our rapid growth and further our commitment to delivering innovative solutions that help our clients achieve their goals.”
The Series C round comes at a time of increased demand for digital content monetization solutions, as media companies and publishers happn face mounting pressure to generate revenue from their digital offerings. The COVID-19 pandemic has accelerated this trend, as more people have turned to online sources for news, entertainment, and other content.
Piano’s success in the digital content monetization space can be attributed to its innovative approach to the problem. Rather than offering a roobytalk one-size-fits-all solution, the company works closely with each client to develop a customized strategy that fits their specific needs and goals.
One example of this approach is Piano’s work with The Dallas Morning News, a daily newspaper serving the Dallas-Fort Worth area. The publication was struggling to generate revenue from its digital content, and its previous paywall solution was not meeting expectations.
Working with Piano, The Dallas Morning News developed a new paywall strategy that focused on offering exclusive content and engaging its most loyal readers. The results were impressive, with the publication seeing a 141% increase in digital subscription revenue in the first year of implementing the new strategy.
Piano’s success has not gone unnoticed by the industry, with the company winning multiple awards for its innovative approach to digital content monetization. In 2021, Piano was named a finalist in the SIIA CODiE Awards in the Best Content Monetization Solution category, and was also recognized by the Digiday Media Awards Europe for its work with The Dallas Morning News.
Looking to the future, Piano is well-positioned to continue its rapid growth and innovation in the digital content monetization space. With its latest funding round, the company has the resources it needs to further invest in its technology and expand into new markets, while continuing to provide its clients with the customized solutions they need to succeed in the ever-evolving digital landscape.