- 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
NEW YORK–(BUSINESS WIRE)–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.
Qwoted (www.qwoted.com), 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.”
Qwoted is a free expert platform designed to help business and finance journalists write better stories faster. Financial reporting is getting tougher with tighter deadlines and faster news cycles. Qwoted helps journalists develop and produce higher quality content more quickly by providing easy access to vetted sources in one place. Through the platform, PR professionals can list clients as sources and respond directly to reporters’ requests in real-time. For more information about Qwoted, please visit www.qwoted.com
Vested is an integrated communications firm that is at the front of the rapidly evolving financial sector. The agency’s approach merges deep financial expertise with creativity and an obsessive commitment to creating value for clients through ideas and action.
The agency, which has offices in New York and London, is a founding member of the Global Fintech PR Network and operates an investment group, Vested Ventures. Learn more at www.fullyvested.com, or via Twitter or LinkedIn.
About Prosek Ventures
Prosek Ventures is a newly formed entity associated with Prosek Partners, one of the largest independent public relations firms in the U.S. Prosek Ventures will aim to invest in new and innovative opportunities within the communications industry that have the potential to bring value to the firm and its clients.
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