US-based online publisher Vox Media has secured $46.5m in series E funding from investment firm General Atlantic, the New York Times reported yesterday.
Vox runs seven online media sites, including games writing site Polygon, technology news source The Verge, online sports media network SBNation and current affairs site Vox.com.
The round valued Vox, which has now raised $125m since it was founded in 2004, at $380m.
The company’s investors include Comcast Ventures, the corporate venturing unit of cable and telecommunications provider Comcast, which led Vox’s $8m series B round in 2009, before participating in a $10.6m series C round in 2010 and a $34m series D round in October 2013.
Vox’s backers also include investment bank Allen & Company, venture capital firms Accel Partners and Khosla Ventures, and angel investor Ted Leonsis.
The cash injection will be used to expand the media company’s video offering, increase brand awareness and improve its native advertising platform.
Anton Levy, head of General Atlantic’s internet and technology team, said: “We think we are at an inflection point. For the next five years, you are going to have the next generation of media platforms emerge. There are parallels to cable in the ’80s. There is going to be a huge amount of value creation.”