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Sherman Oaks Startup Snags $5 million in New Equity

Sherman Oaks-based Ebyline, a startup developing an online marketplace to connect professional journalists with online publishers, has raised $5 million in a new equity funding round, according to a recent regulatory filing from the firm. According to Tuesday’s filing, a single investor participated in the funding. Ebyline has previously raised funding from E.W. Scripps Company. The company was founded by Bill Momary, a former Advertising VP at the Ventura County Star, and Allen Narcisse, who has previously served at the Los Angeles Times, among other companies. The company was launched about a year ago. The marketplace streamlines the way news organizations manage freelance writers and syndicate their own content. Publishers using the system include Variety, ProPublica and the Los Angeles Times. Through Ebyline, journalists and publishers agree on a price per article and Ebyline takes an 8 percent cut from the transaction. Backers include Jeffrey Johnson, former publisher of the Los Angeles Times as well as Leo Wolinsky, editor-in-chief of Variety and former managing editor of the L.A. Times, according to TechCrunch.com Judy Temes

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