PaidContent gets some funding

Rafat Ali’s PaidContent (and sister sisters) is the latest digital media play to get VC dollars–in this case, under $1MM in an angel round from investor Allan Patricof and Greycroft Partners (don’t you love how East Coast VC names invoke Britisms, and West Coast evoke trees).
Newly minted Greycroft kicked off in March; their funding will enable Paid Content and related properties to staff up and get some infrastructure going (does that mean more computers and a better hosting package?)
Rafat writes: “… Alan’s team approached me in January, and when I met him in New York later that month, within 20 minutes of us talking, he instinctively got it– the issues, the challenges, the opportunities.”
Susan sez: Rafat has long been a blogging inspiration to me, and over the years, has become a valued friend…Given how many content plays are now getting VC dollars that tide has clearly turned, so rising interest in PC is no surprise. Rafat however, has been careful–and eager to retain control–from the beginning, so this is a testament to a cautious entrepreneur’s optimism about their funding source.
Congrats, folks!