Since its launch over 20 years ago, Francisco Partners has raised over $24 billion in committed capital and invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. ![]() We are thrilled to have Francisco Partners by our side as their expertise and financing will support us through this next phase of talent and user growth as we expand into new verticals and geographies.”įrancisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. “With this investment, we plan to significantly grow that number by broadening News Break’s mission to include everything local, delivering the information and services locals everywhere need to feel connected and empowered. “Today, more than 30 million app users across the country trust News Break to deliver their breaking neighborhood news,” said Jeff Zheng, CEO at News Break. In 2021, News Break plans to substantially expand its leadership, business, product, and engineering teams. In 2020, Harry Shum, former Executive Vice President of Artificial Intelligence and Research at Microsoft, joined News Break as Chairman of the Board. News Break launched its iOS and Android apps in 2016. News Break was founded in Silicon Valley in 2015 by ex-Yahoo executive Jeff Zheng, with Yahoo co-founder Jerry Yang as Advisor. We are thrilled to be partnering with News Break’s talented leadership team as they continue to drive local news innovations while also rapidly expanding their business into adjacent local verticals beyond news.” “We are inspired by their mission and extremely impressed by the work they have done to bring local-news distribution into the 21st Century through cutting-edge machine learning and media savvy. “News Break’s breakout multi-year successes in the local news space is what first brought them to our attention,” said Alan Ni, Principal at Francisco Partners. The new funding will allow News Break to significantly increase its investments in the local-content ecosystem - both in the United States, and for the first time, internationally - making vital local news and information more easily accessible and abundantly available to people everywhere.Īlready top ranked in the News category on Google Play and in the App Store, News Break is transforming how local news and information is published and shared, bringing people together around the unique and inspiring stories they mutually experience in their own communities. The investment comes as News Break is experiencing greater than three times year-over-year user growth, reaching 12 million daily active users. News Break has previously raised more than $36 million from investors including IDG Capital, who have also participated in this latest round. The investment makes News Break one of the first new unicorns of 2021. Francisco Partners will gain a seat on News Break’s Board of Directors. 1 Intelligent Local News App, today announced it has closed a $115 million round in Series C funding led by Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses. 07, 2021 (GLOBE NEWSWIRE) - News Break, The Nation’s No.
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