|[February 15, 2017]
Minute Media Raises $15 Million in Growth Capital, Bringing Total Funding to $60 Million
Minute Media, parent company of 90min and 12up, the
leading global fan-driven sports media platform, has announced the
closing of a $15 million investment round, bringing its total funding
since inception to $60 million. The proceeds will serve to power Minute
Media's expansion into key global markets ahead of the 2018 World Cup,
the introduction of several new sports brands, and continue to expand
editorial and commercial teams across the company's global operations.
The round was led by Qumra Capital, an Israeli late-stage venture fund,
and joined by Minute Media's existing investors Battery Ventures, Dawn
Capital and ProSieben.
The investment comes at a time of significant growth for Minute Media,
having gone from 30 million monthly users to 70 million over the last 12
months, resulting in prominent comScore (News - Alert) positions in the US, UK and 10
other top global media markets. In May of last year, Minute Media
launched its US platform 12up and opened new offices in Sao Paulo,
Singapore and Tokyo. The new funding will help support continued
development in these markets as well as in London, New York, Tel Aviv
and Manila. In addition, Minute Media will be launching an esports brand
in April that will leverage key event and league rights, team
relationships and several innovative video and editorial formats.
"Between the development of key platforms in advance of the 2018 World
Cup, our forthcoming esports brand launch, and our core audience growth
objectives, we are very excite about 2017 and what's to come," said
Asaf Peled, Minute Media Founder and CEO. "We look forward to cementing
our ascending position in the sports media industry for years to come."
"For more than a decade, publishers all over the world have undergone an
upheaval following the passage of the written press to online media. We
believe that Minute Media will become the world leader in the digital
sports industry, particularly for the millennial generation, an
attractive audience for Minute Media partnerships with both advertisers
and publishers," said Boaz Dinte, Managing Partner at Qumra Capital.
Launched in late 2011, Minute Media is the world's fastest growing
digital sports platform. Through its worldwide fan contribution
platform, Minute Media delivers over 20,000 pieces of original,
socially-driven and then curated editorial in 11 languages to users in
more than 200 countries.
About Minute Media
Minute Media is a leading sports media and technology company, powered
by authentic and socially driven content created by the fans, for the
fans. Minute Media develops products that enable fans to create,
publish, share and distribute sports content around the world. This
unique approach to covering sports fuses topical sports stories with
everyday pop culture, creating a fresh new voice in the world of sports
media. Minute Media's family of sports destinations includes 90min and
12up. The Company is backed by leading venture capital firms and
strategic investors including Battery Ventures, Dawn Capital, Gemini
Ventures, North Base Media, ProSieben and Qumra Capital.
For more information, please visit www.minutemedia.com.
About Qumra Capital
Qumra Capital is an Israeli late-stage venture fund, focused on
investments in the rapid growth of technology companies, aiming at
transforming start-ups into global leaders in their field. Qumra Capital
was established by Boaz Dinte, Erez Shachar and Sivan Shamri Dahan.
For more information, please visit www.qumracapital.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170215005561/en/
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