Brit + Co, a digital media company aimed at millennial women with DIY and lifestyle content, announced it received $15 million in new funding led by Verizon Ventures, the venture arm of telecommunications company Verizon.
The new funding will go towards expanding advertising, as well as into new verticals and media formats, with a focus on video.
“This round of funding will provide the resources to continue to expand beyond media and further into online classes, merchandising and experiential events,” Brit + Co founder and CEO Brit Morin stated.
The investment round brings Brit + Co’s total funding to $45 million. Past investors include DMGT, Intel Capital, Lerer Hippeau Ventures, Oak Investment Partners and Yahoo CEO Marissa Mayer.
Brit + Co projects revenue growth of 300% in 2017.
Originally a DIY-focused site, Brit + Co now covers other women’s lifestyle categories, such as fashion, beauty, parenting, home and food.
In 2014, the company branched out into ecommerce with online classes and corresponding kits available for purchase on its site, as well as across Target stores and online.
Last fall,Brit + Co launched its first product line, a collection of disposable tableware in collaboration with Cheeky, and distributed at Target.
Jeff Jones, former president of Uber and Target chief marketing officer, is joining the company as an adviser, Brit + Co announced this week.
Brit + Co claims to reach an audience of more than 125 million
monthly users across platforms.