TMCnet News
Woven Digital Announces $18.5 Million Series B Led by WPP VenturesLOS ANGELES, June 30, 2016 /PRNewswire/ -- Woven Digital, one of the largest millennial male-focused digital media and content companies, today announced that it has raised $18.5 million in series B funding led by WPP Ventures with participation from existing investors Institutional Venture Partners (IVP) and Advancit Capital. Woven will use this latest round of funding to accelerate its mission to become the leading digital media company where millennial-males discover and connect with pop-culture. The company plans to globally expand its award-winning studio and scale its coverage of news, sports, and entertainment. "We are relentlessly focused on creating and delivering content that today's youth identifies with and is inspired by," said Colin Digiaro, CEO of Woven Digital. "Media is at a critical juncture, where young people watch, read, and share content they care about, across a variety of platforms and in turn this becomes a reflection of who they are. Having WPP as a partner brings a global view of the quickly evolving media and advertising landscape, and this perspective will be invaluable as we continue to build out Woven's video and editorial capabilities." Woven has built a loyal following reaching nearly one out of every three millennial males (ComScore, May 2016). Recently, Woven announced a partnership with Forbes for the launch of Forbes Founders, a new videoseries centered around extraordinary stories of millennial entrepreneurs, as well as the acquisition of Hitfix, a leading fan-focused entertainment reviews and news destination. About Woven Digital About WPP WPP was named Holding Company of the Year at the 2016 Cannes Lions International Festival of Creativity for the sixth year running. WPP was also named, for the fifth consecutive year, the World's Most Effective Holding Company in the 2016 Effie Effectiveness Index, which recognizes the effectiveness of marketing communications. In 2016 WPP was recognised by Warc 100 as the World's Top Holding Company (second year running). Media Contact
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/woven-digital-announces-185-million-series-b-led-by-wpp-ventures-300292645.html SOURCE Woven Digital |