Minute Media, the US-based, sport-themed publishing platform backed by media group ProSiebenSat.1 has secured $17m in series F funding.
The capital was provided by investment banking firm Goldman Sachs, Vintage Investment Partners, growth capital firm Qumra Capital and venture capital firms Battery Ventures and Dawn Capital.
Minute Media runs an online platform that enables users to publish and share their own content covering global sports. The material is also licensed to third-party media operators such as Sports Illustrated, USA Today and ProSieben itself.
Asaf Peled, Minute Media’s founder and chief executive officer, said: “Unlike traditional players in our industry, our tech driven approach to publishing has been key to our growth during such challenging times in digital media.
“We are clearly cemented at the intersection of platforms, publishers and communities. The new funding enables us to leverage this differentiated approach to efficiently scale into new markets and content verticals”.
The round boosted the company’s overall funding to $77m since it was founded in 2011, and came after a $15m series E in February 2017 backed by ProSiebenSat.1, Qumra Capital, Battery Ventures and Dawn Capital.
ProSiebenSat.1 had previously led a $15m round for Minute Media in 2015, back when the company was still known as 90min, that included existing investors Battery Ventures, Dawn Capital and Gemini Ventures.