Video News Service Newsy Raises $2 Million Second Round

Right in time for video news site Newsy to promote its iPad app, the company says it has raised $2 million in a second round of funding. Newsy is run by Media Convergence Group, which started the company in 2008. Like a lot of media companies, Newsy has high hopes for its free iPad app. The funding, raised from angel investors, will support distribution efforts and help it complete some marketing partnerships, said Newsy President John Spencer in a statement. Although it’s essentially a news aggregator, Columbia, MO.-based Newsy insists its model is more about global media analysis as opposed to just collecting others’ reporting.