Vox Media Raises $34M In Round Of Venture Capital Funding
Vox Media Raises $34M In Round Of Venture Capital FundingPublished October 15, 2013
Vox Media, the parent company of digital properties SB Nation, The Verge, and Polygon, has raised $34M in a Series E round of venture capital funding, led by prior investor Accel Partners. The latest round of funding brings the total company investment to nearly $75M, and will be used for fueling expansion of the company's three current properties, and additional projects. The funding, disclosed in a SEC filing, notes a total of $40M for the latest round of offering, and it is expected the additional $6M will be committed soon.
"We've had a tremendous run of growth, particularly on the audience side, and the timing was good to do another round and continue to fund the expansion of this business," said Vox Media CEO Jim Bankoff. Vox Media remains firmly committed to free, ad-supported content, even as many content publishers veer toward paid content structures of various types. "We see a lot of value in the web advertising market, and frankly, I don't think there's a lot of people who have really done it well yet. But we see a lot of opportunity in investing in high-quality content and developing creative executions for premium advertisers."