Two months after
acquiring
The Big Lead from Gannett, digital publishing platform Minute Media has announced it raised $40 million in a recent funding round.
This brings Minute Media’s total
funding to $120 million.
Going forward, the company is “focusing investment on the deepening of our publisher product and tech offering — a part of our business that is
rapidly expanding,” Asaf Peled, founder-CEO of Minute Media, stated.
The funding will also be used for future mergers and acquisitions of publishing brands “across new
content verticals and within new markets,” he added.
Minute Media operates and licenses a digital publishing platform and media solutions.
Revenue for the company is
growing “100% year-on-year,” according to Peled.
advertisement
advertisement
In addition to The Big Lead, the sports, media and pop-culture site Minute Media bought in March, the company
owns soccer site 90min, gaming site DBLTAP, sports site 12up and trivia site Mental Floss.
After buying The Big Lead, Minute Media president Rich
Routman told Morning Consult the company wanted to land a similar media deal every quarter in 2019, particularly in the technology, food and lifestyle space.
Minute Media's
properties reach over 140 million monthly and feature original content in 12 languages, per the company.
The latest round was led by new investors Hamilton Lane and Maor Investments, as well as existing investors Battery Ventures,
Goldman Sachs, ProSieben, Dawn Capital, Qumra Capital, Vintage Investment Partners and Gemini Israel Ventures.