US-based media company Dose Media has secured $25m in a series B round led by media conglomerate Tribune Media and backed by investment fund Tayori.
Dose, which rebranded itself from Spartz Media last week, has created technology that detects content that may go viral and it operates a range of websites based on this tool. The company claims its sites have some 50 million visitors each month.
The money will go towards Dose’s expansion into new content verticals, native advertising and the opening of its own video studio and recruitment. It will also use part of the cash to grow its market share and plans to double its monthly visitors to 100 million in 2016.
Dose and Tribune have concurrently signed an advertising agreement, aand Tribune will gain access to Dose’s technology as part of the deal.
The funding follows an $8m series A round in 2013 featuring Garland Capital and angel investors John Compton and Charlie Anderson. Jumpstart Ventures contributed to a $1.5m seed round in 2012.
Josh Cogswell, chief product officer of Tribune, said: “There is no one in the industry today who knows how to engineer virality better than the Dose team.
“Now working hand-in-hand with our award-winning journalists and storytellers, [Dose CEO Emerson Spartz] and his technologists are primed to reshape the way media is created and optimised for the next demanding audience and sophisticated marketer.”