Female-focused online publisher Bustle (BDG) has agreed to acquire Inverse, a US-based, millennial-focused digital media company backed by media group Bertelsmann, for an undisclosed amount, DigiDay reported on Tuesday.
Founded in 2015, Inverse provides a technology, science and geek culture-focused online platform aimed at a millennial audience. Its editorial staff will move over to Bustle Digital Group’s content management system, Typeset, following completion of the deal.
Inverse founder Dave Nemetz told DigiDay: “BDG has some big plans to expand into new areas of coverage, to move into the culture and innovation space, and also really expand the types of advertisers they can work with.”
The purchase will follow approximately $8m in funding, according to Inverse. It secured $6m in a 2016 series A round led by Crosslink Capital and backed by Bertelsmann Digital Media Investments (BDMI), a corporate venturing subsidiary of Bertelsmann, as well as Social Starts, Bialla Venture Partners and Vast Ventures.
The company had previously raised seed funding from BDMI, Crosslink Capital, Social Capital, Greycroft Partners and Rothenberg Ventures the year before.