Minute Media has raised another $40 million in venture capital to help speed up the next level of global growth and further product launches for the digital sports publisher.
Closing its new investment round led by Dawn Capital, a London-based VC firm, Minute Media has increased its total corporate capital to $160 million to date.
A transformative 2019 saw Minute Media rapidly broaden its US publishing network by purchasing the high coverage properties of the NFL news source’ The Big Lead,’ the fan material publisher’ Fansided’ and the athlete-focused domain’ The Players ‘ Tribune’ for the baseball legend Derek Jeter.
Asaf Peled, founder and CEO of the enterprise, said: “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.”
The US acquisition push of Minute Media will see the publisher improve its established media network, which includes’ 90mins’ leading football fan group,’ DBLTAP’ leading esports publisher, and’ Mental Floss ‘ millennial news and entertainment site.
Dawn Capital, leading the investment, detailed that it was supporting the growth of the most diverse publishing network of sports and entertainment, enhancing its assets for global expansion.
Backing the goals of Minute News, Dawn Capital general partner Haakon Overli said: “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’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.”