Minute Media raises $40m in funding round
July 4, 2019
Global publishing platform Minute Media has raised $40 million (€35.4m) in a funding 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 and uses this 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.
“With the commercial momentum we’re experiencing as an organization, growing at 100 per cent 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,” said Asaf Peled, Founder & CEO.
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 specifically, 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 US presence with headquarters in NYC and additional offices in London, Tel Aviv, Sao Paolo, Singapore, Tokyo and Manila.