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Thursday, September 21, 2023

Piano raised $88M in Series C Funding led by Updata Partners

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Piano, a startup that analytics and subscription services to publishers, offers expert services to keep the businesses and audience of the writer intact. This can ultimately help them grow. The company has recently closed a round of $88 million in funding. However, the overall valuation of the company was not disclosed. piano 88m 241m lundentechcrunch. LinkedIn is the new backer and participant in this Series C, which was led by previous backer Updata Partners. Rittenhouse Ventures was the other participant in the funding round.

Trevor Kaufman, the CEO of Piano has not revealed how they specifically will be working with LinkedIn. It is speculated that they may work in a number of ways. For instance, they may provide an identity layer to comment on stories or even build a way to manage logins via a LinkedIn profile. LinkedIn has a lot of untapped potential that Piano could use.

The funding comes as a result of the strong period for Piano that recorded works with around 1,000 customers including names like CNBC, Wall Street Journal, The Economist, Gannett, NBC Sports, Insider, Nielsen, MIT Technology Review, Le Parisien, and many other renowned names. The company has seen revenues grow 400% since 2019. Piano plans on using the investment amount to continue building technologies for its target audience. Not just this, it even plans on forging into newer areas where it can better connect audiences online. The future plan of Piano is to add new products in the area of newsletters. The product will be aimed at helping publishers build out newsletter businesses that can be monetized if they want to. The company may also be dipping into more (Measurement and Analytics) M&A space. Kaufman further added that Piano has a strong vested interest in supporting its publisher customers

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