Israeli sports global media publishing platform Minute Media has announced that it raised $40 million in a financing round with new investors Hamilton Lane and Maor Investments. The company’s existing investors include Battery Ventures, Goldman Sachs, ProSieben, Dawn Capital, Qumra Capital, Vintage Investment Partners and Gemini Israel Ventures. This brings Minute Media’s total funding to $120 million to-date.
Minute Media has created a digital publishing platform that empowers sports fans to create, publish and distribute thousands of pieces of content each day around the world. By enabling fans to become both the content creator and consumer, the company has introduced a new perspective that goes beyond the traditional sports newsroom. Minute Media uses this proprietary technology and digital product platform to drive content and media solutions for its own properties in addition to the licensing of the full stack to other publishers and digital brands, allowing them to easily create and distribute innovative content at scale. This has resulted in partnerships with dozens of third party publishers and brands including Sports Illustrated, USA Today Sports Media Group, MSN, ProSieben and Horizon Media
The Tel Aviv company was founded by CEO Asaf Peled, Gili Beiman and Yuval Larom in 2012 and currently employs over 200 people in markets including New York, Los Angeles, London, Tel Aviv, Singapore, Tokyo, Manila and Sao Paolo.
Peled said, “With the commercial momentum we're experiencing as an organization, growing at 100% year-on-year, we're purposely focusing investment on the deepening of our publisher product and tech offering - a part of our business that is rapidly expanding. Additionally, the new capital enables us to continue to be aggressive on the M&A front, constantly looking to acquire premium publishing brands across new content verticals and within new markets."
Currently, Minute Media owns and operates five media brands powered by its proprietary technology platform including 90min, DBLTAP, 12up and its two recently acquired brands-Mental Floss and The Big Lead. Combined, Minute Media’s properties reach more than 140 million monthly and feature original content in 12 languages. In the US alone, Minute Media reached #1 in Comscore’s Video Metrix across the sports sector for unique multi-platform viewers in February, March and April 2019.
Minute Media currently employs over 200 people worldwide, including a broad U.S. presence with headquarters in NYC and additional offices in London, Tel Aviv, Sao Paolo, Singapore, Tokyo and Manila.
Published by Globes, Israel business news - en.globes.co.il - on June 12, 2019
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