New Technology, Aims to Improve Connectivity Between Reporters and Sourcesplatform, Launched in 2018, Already Boasts Thousands of Active Users from Major PR Agencies and Publications
Today, Prosek Ventures, the investment arm of global communications firm, Prosek Partners, announced a strategic investment in Qwoted, a business network platform connecting reporters with PR professionals and expert sources. Qwoted, which was created by Vested, an integrated global communications firm, was launched in Q3 last year.
“We have always believed that automation and AI would reshape the way we do business. We also believe practitioners who have the best tools will be the most successful moving forward”
Qwoted, is a free platform that enables reporters from leading publications to reach expert sources and produce higher quality coverage faster. In addition, the platform provides PR professionals who work in finance and business the opportunity to respond to reporter inquiries and offer their clients as sources. Agency users include representatives from Weber Shandwick, Edelman, Hill & Knowlton, FleishmanHillard, FTI and more. Qwoted aims to solve inefficiencies in the pitching process and greatly improve communications between reporters and sources. Reporters from the Wall Street Journal, The New York Times, Bloomberg, Thomson Reuters, Fortune and others to date have submitted over 1000 expert source requests.
“We have always believed that automation and AI would reshape the way we do business. We also believe practitioners who have the best tools will be the most successful moving forward,” said Jennifer Prosek. “Qwoted has the chance to reshape the way public relations professionals do business and we are thrilled to be the first investors in the platform.”
Qwoted uses technology that was developed by Vested and is now a separate entity. Terms of Prosek Ventures’ investment in Qwoted were not disclosed.
Prosek Ventures’ investment will accelerate the development of new features and fuel sales, marketing, and customer service. Led by Dan Simon, Vested’s co-Founder and CEO, Qwoted will benefit from the resources of both agencies. As a result of the investment, Jennifer Prosek and Russell Sherman will join the five-person Qwoted board alongside Dan Simon, Binna Kim, and Seth Rosenstein.
Qwoted will operate under a “freemium” model: all no-cost Qwoted subscriptions will offer robust, value-added features that will allow communications professionals to engage with finance and business journalists and monitor the financial news cycle in new ways, while premium subscribers will have access to the platform’s full suite of capabilities.
“From day one, Vested has baked powerful technology in to its offering. Qwoted is the natural progression of the agency’s commitment to using technology, data, and proprietary software applications to deliver value to clients at scale,” said Simon. “The future of the PR industry is open, collaborative and powered by technology and we are delighted to partner with a forward-thinking firm like Prosek who also understands that instinctively.”
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