Vox Media is in the process of raising $40 million in a new venture capital round. They have already raised $34 million in that round. Vox Media, led by former AOL executive Jim Bankoff, previously raised almost $40 million to build up websites like Polygon, SB Nation, and The Verge. This round of funding is led by Accel Partners.
Vox Media may use the funding to open up content in new verticals, but it will mostly be used to invest in their core businesses.
These three websites are hitting almost 60 million visitors per month and this number has doubled in the last year. Vox Media is expected to hit profitability this year.