TheSkimm, a newsletter targeted to millennial women, is poised to expand its editorial and product offerings with an influx of $12 million.
New investors include Google Ventures and Spanx founder Sara Blakely, along with more cash from early investors 21st Century Fox, RRE and Homebrew.
TheSkimm raised more than $16 milion in previous rounds of funding.
Founded by former TV news producers Carly Zakin and Danielle Weisberg, TheSkimm offers an irreverent yet informed take on news and pop culture. Currently, it's covering topics like the Miami bridge collapse and Donald Trump Jr.'s divorce.
The newsletter reports a 30% open rate.
Since its launch, TheSkimm has expanded to offer podcasts, an e-commerce business and a paid app featuring a calendar of upcoming news and televised events.
TheSkimm will use the new influx of money to build more subscription services, perhaps with the help of Google Ventures and Google, and enrich its video and podcasting options, along with plans for data analysis.
“We’ve always said email was a marketing tool for us. The product expansions are always about making it easier to live a smarter life,” Zakin told Nieman Journalism Lab last fall.
According to TechCrunch, TheSkimm has doubled its revenue year to year since 2016, given subscriptions and native advertising and affiliate licensing. The staff has also doubled, requiring the company to move into new headquarters.