An online platform aimed at transforming the economics of local news and content businesses recently announced the closing of a US$2.2 million seed funding round.
The financing for Vancouver’s Indiegraf was led by Toronto-based StandUp Ventures with participation from Coralus and Mucker Capital.
The capital will fuel Indiegraf to empower independent media entrepreneurs across North America and beyond, according to chief executive officer Erin Millar.
“A generational transition of media ownership is underway, from large corporate to community ownership,” stated Millar.
“Indiegraf is at the centre of this movement,” Millar continued, “ensuring that both aspiring content creators and established news organizations can access everything they need to build media businesses that thrive, not only in affluent urban communities but in lower income and news deserts too.”
In North America, digital newspaper ad revenue is expected to surpass print by 2026—which, should the forecast come to fruition, will be a first for any of the world’s major media markets.
Indiegraf’s value proposition in response to this trend lies in the firm’s “media business-in-a-box” solution, which includes a news website builder, email newsletter platform, supporter payment system, advertising platform, expert marketplace, and access to growth capital.
“Indiegraf makes journalism possible in communities that cannot support the traditional business model of newspapers and radio,” Millar said.
So far, the platform has already powered over 150 community media businesses operating in multiple languages including English, Spanish, and French.
“We believe that the most important media organizations of the future are just getting started or don’t yet exist,” said Michelle McBane, Managing Director of StandUp Ventures. “Indiegraf’s smart and original approach to empowering the next wave of media entrepreneurs makes them the ideal partner to lead this transformation.”
Founded in 2020, Indiegraf has previously won Spring Activator’s Impact Investor Challenge.
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