BuzzFeed Raises $19.3 Million In Series D Funding
BuzzFeed is a content website that writes all sorts of interesting articles. It does not matter if the article is about “50 Puppies To Help You Get Through Work Today” or “The Best Mr. T GIF Ever.” If the content has a chance of going viral, BuzzFeed will try to put it out there. The company has just raised $19.3 million in funding. BuzzFeed plans on hiring more employees and to expand their presence on mobile phones. BuzzFeed has raised a total of around $47 million.
“We have the senior management, board, and investors we need to build the next great media company: socially native, tech enabled, with massive scale. We are all focused on that big goal and raised this capital to move even faster,” stated BuzzFeed founder and CEO Jonah Peretti. Peretti is also known for being a co-founder of The Huffington Post.
The company has not really tapped into their Series C round of funding yet because the website’s traffic and revenue growth helped pay for the 70 employees that the company employs. The Series D round was led by New Enterprise Associates. Other investors that participated in this round include RRE Ventures, Hearst Interactive Media, SoftBank, and Lerer Ventures. Two new investors that joined the company’s board of directors are Buddy Media co-founders Michael and Kass Lazerow.
“We think BuzzFeed will be one of the great media companies of the next decade,” stated BuzzFeed board member Patrick Kerins. Kerins led the round into BuzzFeed on behalf of NEA.