Vox Media aims to obtain USD40 million funding via Accel Partners
According to Internet media company Vox Media, it would be raising USD40 million from venture capital firm Accel Partners. The announcement was made today after some reporters noticed the disclosure in a filing with US Securities and Exchange Commission.
The independent content creator has three main editorial brands. SBNation is one of the largest online blogging communities focused on sports. The Verge is a popular technology and gadgets news website. Polygon is a gaming news site.
A rise in tech-related media companies taking funding had been noticed in the past recent years. GigaOm was able to raise USD14 million in investment commitments. SayMedia was able to obtain USD27 million in funding. TechMedia had used part of the USD40 million it raised in acquiring Tom's Website, a popular tech website, in July.
Vox had planned to use the investment to produce more editorial video coverage across sites and cover reports in business. An earlier report by All Things D had revealed Vox's plans to be profitable this year, and would be focusing on expanding its video business and connected applications for television.