US-based, female-focused digital media company Bustle has received $11.5m in funding from investors including media and entertainment group Time Warner, which participated in the round through its Time Warner Investments subsidiary.
Investment firm Saban Capital Group led the round, which also featured venture capital firms GGV Capital, General Catalyst Partners and Social Capital.
Founded in 2013, Bustle runs a digital media platform aimed at millennial women and claims to get more than 45 million monthly unique visitors.
The company, which has raised $38.5m altogether, will put the cash towards accelerating growth by expanding its editorial and video departments and developing its sales and brand services.
Time Warner Investments and Social Capital initially took part in Bustle’s $6.5m seed round in 2013, investing alongside corporate venturing unit Google Ventures, Rothenberg Ventures and 500 Startups.
Time Warner, Social Capital joined R&R Ventures to add another $5m in July 2014 before returning for a $15.5m series C round featuring General Catalyst Partners, Rothenberg and 500 Startups five months later.