Web social publisher BuzzFeed, has completed a Series D financing of $19.3 million led by NEA. Previous investors RRE, Hearst, SoftBank, and Lerer Ventures participated. Michael and Kass Lazerow, serial entrepreneurs and co-founders of Buddy Media, joined the round as new investors.
“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,” said Jonah Peretti, BuzzFeed Founder and CEO.
In December, the company passed 40 million unique monthly visitors (Google Analytics), with growth driven by social (Facebook, Twitter, Pinterest) and mobile (over one third of all BuzzFeed traffic). The company also grew revenue more than threefold in 2012, exclusively from content-driven, social advertising, and grew staff to 180 employees.
The company will use the capital to further mobile development, expand geographically, grow its editorial team, invest in video, and work on new initiatives that will be announced later in the year.
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