Israel digital publishing platform Minute Media today announced it has raised $40 million in a financing round led by Dawn Capital and with the participation of existing investors. The company has raised $160 million to date including the latest financing round. Minute Media's last financing round, also for $40 million, was last year.
The new funds will be used to support global expansion and further development of Minute Media's publishing platform. The company will also be able to enhance the recently acquired The Players’ Tribune athlete-focused content and prepare for future acquisitions.
With offices in New York and Tel Aviv, the company was founded by CEO Asaf Peled, Gili Beiman and Yuval Larom in 2012. the company has 380 employees of whom 90 are in Israel.
Peled said, "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. 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."
Dawn Capital general partner Haakon Overli said, 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 owns seven digital media publications worldwide, 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.
Published by Globes, Israel business news - en.globes.co.il - on February 26, 2020
© Copyright of Globes Publisher Itonut (1983) Ltd. 2020