The $2.5m comes from an undisclosed number of investors, though it is understood that some individual backers also helped launch Spain's Hoover's and HighBeam Research firms.
Spain launched Newser in 2007 as a spin off of HighBeam Research, a paid search engine for newspapers and encyclopaedias, which he sold to Gale, part of Cengage Learning last year.
aggregates newsfeeds from over 100 sources, particularly the Associated Press, The New York Times, The Wall Street Journal and Reuters.
The website also aggregates a variety of popular blogs Smoking Gun, Politico, Huffington Post, Mashable and Bill O'Reilly's Talking Points memo.
Instead of linking directly to these third-party stories, it writes small summaries of the articles, which can be viewed before the affiliated link.
The homepage relies heavily on images rather than text, presented as a scrolling grid of news photos, with headlines attached.
Users can customise the news grid to show either hard or soft news, focusing on financial, political and world events over arts, entertainment and gossip.
Wolff, renowned for his critical views of the state of print media, said Newser attracts about 1.75m users every month.
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