Outside.in is a hyper-local news aggregator and when they say hyper-local they mean it - the site captures news, blog posts and other resources right down to the neighborhood level. The company announced tonight that it's raised a nice round of funding, $7 million from CNN, the super-hip VC at Union Square Ventures , real-time savvy VC shop Betaworks and several other organizations. Both of the aforementioned are existing investors re-investing. Tonight the Outside.in site told me about a new real-estate valuation report for the neighborhood I just bought a house in, a city permit request by a local college planing to subdivide a big residential lot on the beautiful old street I walk my dogs on and some cool jobs in the neighborhood. What more could I ask for? Long term viability and an expanded staff for a service like this? That sounds great. Sponsor Outside.in says that its headlines will soon be run on CNN's website, much like MSNBC has said it will run hyper-local news from the related site it acquired this year, EveryBlock . EveryBlock tends to discover a lot more information than Outside.in does. Its public records discovery is especially good. It's a lot of fun to read health department inspection reports from neighborhood restaurants (in a perverse sort of way) and that's not something Outside.in unearths. EveryBlock has to date been limited to a handful of big cities around the US, though. Outside.in has no such limitation. Things not to love about Outside.in include a garish new advertising-filled page layout (just subscribe by RSS feed) and a heart-breaking iPhone app. That app discovers your location and brings up area news - lots of fun to use when house-hunting in different neighborhoods. Not so much fun when it fails to work, which is more often than not in my experience. If you want a good local news iPhone app, check out Fwix . I'm eagerly awaiting the launch of Nozzl Media , a related service we profiled in our report The Real-Time Web and Its Future . These kinds of data parsing services, tied to real-life experiences like geographic location, are becoming an important value add now that more and more data is coming online. Everyone wants to discover the future of news - these kinds of services could well be an important part of it. Note: Outside In is also the name of a 40 year old youth social services agency that also deserves respect, speaking of local. Discuss

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I Love Outside.in & It Just Got CNN Backing