Minute Media Raises $40 Million in Funding to Enhance Technology Platform and Support Rapid Growth
Led by Dawn Capital, Minute Media has raised $160 million in total funding
Minute Media, a leading global technology and digital publishing platform, today announced it has raised $40 million in venture capital, bringing its total funding to $160 million. This latest round of funding was led by Dawn Capital with participation from existing investors. The new funds will be used to support global expansion and enhancements to its tech publishing platform, further invest in the recently acquired The Players’ Tribune athlete-focused content and prepare for future acquisitions.
“It’s been a year of rapid growth for Minute Media, with the acquisition of The Players’ Tribune, FanSided and The Big Lead and we are bullish on what 2020 has in store,” said Asaf Peled, Founder and CEO of Minute Media. “We are grateful to have the confidence of industry-leading investors to support our vision of building digital publishers rooted in strong technology. This round of funding will help us invest in our technology platform and enable us to look at new digital brands as acquisition targets.”
Haakon Overli, General Partner at Dawn Capital, said: "Minute Media's best-in-class platform enables publishers to create, distribute and monetize high-quality content. The company is quickly establishing itself as a major player in the new generation of online publishing, empowering creators and audiences alike. Following explosive revenue growth in 2019, we're pleased to back the team once again, allowing them to accelerate R&D and commercial efforts further still."
Minute Media is the owner of seven digital media publications across the world, including 90min, DBLTAP, 12up, Mental Floss, The Big Lead and recently acquired The Players’ Tribune and FanSided. Minute Media has created the industry’s leading digital publishing platform and uses its proprietary technology to power content and media solutions for its own properties in addition to the licensing of standalone and full stack solutions to other leading publishers and digital brands.
Later this year, Minute Media will be releasing enhanced technology platform offerings which will further growth, efficiency and innovation across its own portfolio as well as its publishing partner sites.