Meeting the Moment: NMV's Impact 2017–18
On the heels of a historic midterm election, we're taking a moment to reflect on the past two years, celebrate our successes, and thank our community of entrepreneurs, activists, donors, and investors.
Funding the Resistance with $1M to Tech & Media Startups Driving Progressive Change
[UPDATED August 2, 2017: New Media Ventures has made three additional investments as part of our pledge to move $1 Million to progressive organizations this year. The new companies are AerialSpaces, Daily Action and Hustle.]
We are excited to announce that we have committed $1 million to a new cohort of progressive startups working at the intersection of tech, media, and politics.
After receiving more than 500 applications during our “Resist and Rebuild” open call for funding (up from 100 last year!), we narrowed down the field to 17 and are delighted to be investing in the following startups:
Over the last year, we have seen an unprecedented attack on the institutions, processes, and values that form the foundation of our democracy. But there are signs of hope. Every day, we are inspired by the wave of civic mobilization sweeping the country.
Our mission is to find, support, and finance organizations that are telling new stories, building advocacy movements, and catalyzing civic engagement. To date, we have invested more than $10 million, catalyzing $50 million in follow-on funding, helping 60 startups get off the ground.
We also know that it’s critical for more investors to join us in this space. These bold new initiatives need immediate support to get off the ground and scale their impact. If we don’t act now, we could miss this moment.
That’s why we’re excited that this round of funding is part of a broader investor movement to build the future we want to see; Propel Capital and Omidyar Network have both joined our fund this year. Propel Capital, is also making separate follow-on investments in Indivisible and SisterDistrict and is conducting due diligence on others in the fund for potential investment later in the summer. These groups collectively need $15 million in funding, and we hope more investors will join us in supporting their bold efforts.
We have a clear opportunity to defend our democratic institutions, champion our shared values, and advance social justice. And we need you — more entrepreneurs working to solve the most important problems, more funders looking to invest in world-changing projects, more tech leaders eager to share your expertise, and more accelerators ready to turbocharge the next generation of leaders.
As always, get in touch with us so we can work together to innovate, inspire, and ignite the fire of progressive change.
About New Media Ventures:
New Media Ventures is a mission-driven venture fund and investor network supporting startups that use media and technology to drive progressive change. We are uniquely positioned at the intersection of venture capital, progressive politics, and technology, and work to provide the necessary links between Silicon Valley and Washington, D.C.