Pentech invests in Hubdub

Software VC company Pentech Ventures and Scottish Enterprise’s Scottish Co-Investment Fund (SCF) have led an £810,000 round of funding into Hubdub, a Scottish-based web start-up.

Hubdub claims it makes “news more exciting” by letting users stake virtual dollars on the outcomes of real news events.

The Series A funding round will be used to enable Hubdub to focus on growing its partnership base, which reports say includes Reuters, and to develop functionality to allow media partners to carry Hubdub prediction markets on their site.

The funding was also backed by a group of angel investors, including Rikki Tahta, CEO of, Simon Murdoch, CEO of and Tim Jackson, founder of

As part of the deal, Marc Moens of Pentech Ventures will join Hubdub’s board.

Moens said: “The news industry is currently seeing a structural change to its business. While off-line ad revenues are slumping, news media companies are aiming to build web businesses with significant user engagement. We see Hubdub as a key enabler for media companies to build that engagement around their content.”

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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Series A funding