Minute Media, a leading global technology and digital publishing platform, today announced it has raised $40 million in venture capital, bringing its total funding to $160 million. This latest round of funding was led by Dawn Capital with participation from existing investors. The new funds will be used to support global expansion and enhancements to its tech publishing platform, further invest in the recently acquired The Players’ Tribune athlete-focused content and prepare for future acquisitions.
“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,” said Asaf Peled, Founder and CEO of Minute Media. “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.”
Haakon Overli, General Partner at Dawn Capital, 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 is the owner of seven digital media publications across the world, 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.
Later this year, Minute Media will be releasing enhanced technology platform offerings which will further growth, efficiency and innovation across its own portfolio as well as its publishing partner sites.
ABOUT MINUTE MEDIA
Minute Media is a leading media and technology brand focused on two main pillars—platform and content. Minute Media’s platform serves as the company’s foundation, powering its content as well as enabling the evolution of other market-leading digital media brands. To date, Minute Media’s owned and operated destinations include The Players’ Tribune, 90min, 12up, DBLTAP, Mental Floss, The Big Lead and FanSided. Minute Media is backed by leading venture capital firms and strategic investors including Battery Ventures, Goldman Sachs, ProSieben, Dawn Capital, Qumra Capital, Vintage Investments, Gemini Ventures, North Base Media, La Maison, Remagine Ventures, Hamilton Lane and Maor Investments.
ABOUT DAWN CAPITAL
Dawn is Europe’s largest specialist B2B software investor, with assets under management of $550m. The firm partners with innovative companies that, through exceptional teams, products and business models can become category-defining, global titans. Dawn is an early-stage investor, backing companies at series A and B, and continuing to fund the best-performing from growth rounds through to exit. Within B2B software, Dawn focuses on four areas: data & analytics, cybersecurity, fintech and the future of work. Its roster of investments includes Mimecast (now NASDAQ-listed with a $3bn market cap), iZettle (sold to PayPal for $2.2bn cash), Collibra, Showpad, Dataiku, Templafy, Quantexa, Garrison and Tink, amongst others.