US-based blogging platform Medium has raised $57m in a series B round backed by investors including Google Ventures, the corporate venturing arm of internet company Google, it revealed yesterday.
Venture capital firm Andreessen Horowitz led the round, while online media company Chernin Group, Greylock Partners, Obvious Ventures and assorted angel investors also took part.
Founded in 2012, Medium enables users to publish articles for which readers are encouraged to comment and leave notes. The company claims to host new content created by some 20,000 users each week.
The cash will support new features and partnerships, though Medium said in a blog post it will only reveal details next week.
Google Ventures previously contributed to Medium’s $25m series A round in January 2014, which was led by Greylock Partners.
CAA Ventures, the investment vehicle of talent agency Creative Artists Agency, Code Advisors, Science, Betaworks, SV Angel and several private individuals also participated in the series A round.
Medium had earlier secured undisclosed seed funding from co-founder Evan Williams and his incubator, Obvious Corporation.