Newsy Raises $2M for Multisource Video News

Multisource video news analyzer Newsy announced this morning that it has raised $2 million in a second round of funding from undisclosed angel investors. Newsy president Jim Spencer said in a statement that the funding will be used to build revenue, distribution and marketing partnerships, as well as to grow its news operations.

Newsy, which was founded in 2008, seeks to set itself apart from other other video news aggregators, such as 1Cast, by providing a layer of analysis on top of the video news it covers. As such, it doesn’t just distribute the source video from news content partners. Instead, the startup analyzes video news from multiple sources, compiling reports on hot news topics and producing short, two- to three-minute videos that tackle multiple sides of an issue. As a result, they use news coverage from outlets that range from international media companies to national cable news networks to local evening news broadcasts.

The new funds come hot on the heels of the launch of Newsy’s iPad app, which distributes its videos to the popular Apple (s AAPL) tablet device. It also has an iPhone app and applications for Android-based smart phones and Intel (s INTC) Atom-powered netbooks.

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