Business Insider Raises $7 Million Led By IVP
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Business Insider has raised $7 million in funding. They plan on using the funding to do “more cool stuff over the next couple of years, all of which we hope will make Business Insider much more useful, comprehensive, and fun for you.” Institutional Venture Partners, a new investor in the company, led this round of funding. Somesh Dash and Todd Chaffee of IVP will be advisors at Business Insider going forward.
This round of funding began earlier in the summer. Business Insider considered the possibility of raising $2 million, but they ended up raising the $7 million. BusinessInsider.com currently sees about 12 million unique visitors per month and about 400,000 per day. BusinessInsider currently has about 60 employees.