What: Online publisher Mic raised US$21 million in Series C funding, with the main goal of expanding its video output.
Why it matters: According to Mic, 75% of its daily views come from video content, which allows the site to reach 66 million unique readers and viewers each month.
Focused on generating content for the millennial market, Mic has announced the raise of US$21 million in Series C funding to expand its video offering. Lead by Lightspeed Venture Partners, the investment is also coming from big media companies, including group You and Mr. Jones, Time Warner Investments, and investment group Kyu Collective.
According to an official statement of the New-York-headquartered company, the funding will help increase its video output such as live streaming, new channel brands, and subscription video-on-demand.
After announcing the launch of nine new content brands, it makes sense that the company founded in 2011 was looking for additional funding. The new sites include personal finance channel Payoff, politics channel Navigating Trump’s America, and feminist channel Slay.
With offices all around the world, in cities including LA, San Francisco, Berlin, Toronto, and Kiev, Mic has raised a total of US$52 million to date.
What: Digital-data startup Krux Digital Inc. raised $35 million in funding.
Why it matters: Krux is a DMP that collects and analyzes information about people’s habits and interests.
The fundraising values Krux at about $150 million, according to the WSJ. Krux is a DMP that collects and analyzes information about people’s habits and interests. Accoding to the company, they have repositories of information on tens of millions of consumers’ online and real world behaviors.
Accel Partners and IDG Ventures ar part of the existing investors of the Series B round and SAP Ventures, Time Warner, Temasek and Taizo Son are new investors.
“Yet the information increasingly is controlled by a handful of large companies, including Google Inc., Facebook Inc., Adobe Systems Inc. and Oracle Corp. Each of them is acquiring personal-data companies as they assemble a suite of tools for retailers to better predict who is likely to buy from a new Prada clothing line, for example.” said the WSJ.
Tom Chavez, Krux co-founder and chief executive, said the difference with Google or Facebook is that they don´t sell advertising, so they are an “independent personal data repository”.
Krux said it plans to use the fresh investment funds for more salespeople and to bulk up resources that help customers get more value out of the service.