Demand Media, the Santa Monica-based online media company, is doing its first strategic investment: it is taking a minority stake in Coveritlive, the live blogging/event coverage tools firm. The tools from Coveritlive will be integrated within Pluck, Demand’s social media enterprise tools company and Demand will market, resell and service the joint solution to enterprise customers. Sky News is one example of a customer already using both the services.

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The Toronto-based startup’s platform lets users post and update content, insert video and images, and set up polls and Q&A sessions in real time. There’s mobile support, including an iPhone viewer; CiL also archives each liveblogging session and provides analytics. Besides its free version of the tool, it has recently started marketing its enterprise tool for bigger media companies. It raised $1 million earlier this year from Flagstone Capital and private investor Paul Kedrosky.