This was first reported on Gigaom.com.
Betaworks, a New York City-based Internet company, has raised $20 million in new venture funding, according to company executives. Intel Capital and previous investor RRE Ventures led the current round, which included Softbank, Founders Collective, DFJ Growth, AOL Ventures and the New York Times. The company had previously raised $8 million.
Betaworks, the brainchild of former AOL executives John Borthwick and Andrew Weisman, views itself as a holding company that both invests in and operates Internet and digital media companies.
In some ways for its investors, Betaworks is a bet on the newly emergent sector amorphously described as the real-time web. It is best known for its bets on the Twitter ecosystem.