Poynter: As funding dollars dwindle, newsroom tech companies are heeding the call for consolidation

Read the latest on the News Revenue Hub’s partnership with Indiegraf in Poynter’s coverage:

“In the late 2010s, the journalism support space was awash with funding. Tech giants like Google and Meta, along with more traditional philanthropists, poured money into startups developing tools for newsrooms.

It was the era of the “plant a thousand flowers strategy,” said Erin Millar, who cofounded her company Indiegraf in 2020. “Try a whole bunch of different experiments and see what works.”

Those boom times are over. The tech giants have pulled back, and some funders view journalism as a riskier investment in the current political climate. In the wake of this retreat, the field is consolidating, with Indiegraf leading the way…

The deal, expected to close later this month, brings News Revenue Hub’s donation management tool RevEngine under Indiegraf. It follows the company’s quick-fire acquisitions of Hearken and Stylebot. Leaders at the organizations say that by consolidating, they can help reduce the funding pressures newsrooms face while giving them the tools they need to strengthen their independence.”