GigaOM Secures $6 Million For Expansion
Business and technology media company GigaOM has raised an additional $6 million in venture funding from investors in a round led by Reed Elsevier Ventures that includes existing investors Alloy Ventures and True Ventures.
That brings the total raised by the San Francisco-based start-up, founded by influential tech writer Om Malik, to more than $14 million. The company plans to use the capital to expand the number of analysts in its GigaOM Pro research service, which includes more than 100 independent experts covering a range of emerging technology subjects.
The company charges $199 per year for the service, which is intended to provide timely research and commentary from a network of analysts from firms such as IDC, Yahoo Group and ABI. A subscription includes access to analysts and editors as well as to GigaOM-run industry events and weekly and quarterly research updates.
With investment and resources from Reed Elsevier, the company also plans to upgrade its GigaOM Pro technology platform and expand its conference business to cover new markets and cities. "Reed Elsevier Ventures is the ideal investment partner for GigaOM, bringing their focused expertise and contacts in events, media, research and content monetization to GigaOM as we accelerate into the next phase of growth," said company CEO Paul Walborsky.
GigaOM Pro has already attracted dozens of Fortune 500 companies and a steadily growing individual subscriber base. On the ad-supported side, it operates a blog network anchored by the flagship GigaOM site and including more narrowly focused properties covering topics such as Open Source, green technology, broadband and Apple. Together, the sites draw a monthly audience of 4 million, with an audience that has grown 30% annually.