Vox Media Raises Another Massive Round of Financing
Vox Media, the publisher behind the sports-blogging network SB Nation, tech and culture site The Verge, and gaming site Polygon, has raised almost $34 million in a new financing round, per information disclosed in an SEC filing by the company. The company isn’t done, either, as the regulatory filing indicates that Vox Media will look to raise an additional $6 million to bring its latest funding total to $40 million.
Dan Primack at Fortune confirms that Vox Media plans to close a full $40 million round shortly. The round is led by Accel Growth Fund.
Prior to this new round, Vox Media had raised $40 million, which helped propel the company to become one of the top digital publishers in sports and tech today. SB Nation, with its network of blogs for each major sport (and among the top sports leagues, a blog per team), is the crown jewel so far. Vox Media’s corporate site reports that SB Nation reaches 19.34 million unique visitors, followed by The Verge with 5.23 million, and Polygon (which is the newest property) with 1.07 million.
I don’t know how accurate those numbers are, though. Quantcast numbers peg Vox Media’s total reach around 42 million uniques over the past month, with over half coming via mobile web. And in June, Vox itself said that SB Nation is reaching 50 million uniques per month. I’ve reached out to Vox to get the most up to date numbers, and will update when I hear back.
As for the new funding, it’s not clear yet where the capital will go, though Vox Media CEO Jim Bankoff tells All Things D that his top priority is to reinvest in the company’s “core.” More to come when Vox is ready to officially announce.
That core ostensibly includes Vox Studios, the company’s in-house video production unit which creates an array of original shows and branded video content.Tags: Accel Growth Fund, financing, gaming, Jim Bankoff, Polygon, SB Nation, Sports, Tech, The Verge, Vox Media, Vox Studios, youtube