US-based digital media and e-commerce company Brit + Co has raised $15m in a series C round led by Verizon Ventures, the corporate venturing arm of telecommunications company Verizon.
The round included Intel Capital, the corporate venture capital subsidiary of semiconductor manufacturer Intel, media group Daily Mail General Trust (DMGT), venture capital firms Lerer Hippeau Ventures and Oak Investment Partners, and angel investors Marissa Mayer and Gary Vaynerchuk.
Founded in 2011, Brit + Co operates a female-focused lifestyle media platform that initially concentrated on homecraft and DIY before expanding to a broader remit of fashion, beauty, parenting, home, food and news, and which it claims has an audience of 125 million.
The company will use the latest funding to further widen its revenue channels which include online classes, merchandise and advertising. It will also extend its editorial reach with a stronger push into video content.
Mark Smith, executive director at Verizon Ventures, said: “Brands seek to work with publishers that reach large audiences through positive, engaging and memorable experiences.
“The team at Brit + Co develop and deliver creative lifestyle content, classes, and products that inspire and enable millions of women to take charge and shape their lives. We look forward to their continued success.”
Brit + Co has now raised approximately $45m altogether, with DMGT participating in a $1.25m seed round in 2013 that featured Index Ventures, Cowboy Ventures, Founders Fund and angel investors including Mayer.
Intel Capital came on board for the company’s $23m series B round in mid-2015, which included Oak Investment Partners.