Vox Media Raises $34 Million to Expand Video Business
Vox Media may only have three sites to its name — The Verge, SB Nation and Polygon — but that hasn’t stopped the D.C.-based company from stuffing its pockets.
The digital media company has raised $34 million in funding with plans to add an additional $6 million to close the round at $40 million, according to documents filed with the Securities and Exchange Commission. Accel Partners led the funding round and was joined by fellow previous investors Comcast Ventures and Khosla Ventures.
Vox Media eventually plans to extend into new content verticals, but CEO Jim Bankoff said he primarily plans to invest in the company’s existing properties and expand its video content. “You will see a whole lot … more video product from us, better video product and more widely distributed,” he said. Vox Media Chief Operating Officer Marty Moe said connected TV apps are “squarely in our future…I wouldn’t put them in the distant future.”
