Maker Media, a US-based platform connecting inventors and product developers, has raised $5m in funding from investors including O’Reilly Alphatech Ventures (OATV), the investment arm of media company O’Reilly, TechCrunch reported today.
The equity portion of the round also featured Obvious Ventures, Raine Ventures, Azure Capital and Floodgate, while venture capital bank Square 1 provided debt financing.
Maker was spun-out of O’Reilly Media in January 2013 with $5m from OATV and Floodgate. It runs a range of media-based subsidiaries including Make: magazine, periodic technology festival Maker Faire and craft kit supplier Maker Shed.
The company plans to expand the content side of its business and has hired Rafe Needleman from Yahoo Tech to oversee its digital content. It also plans to leverage the connections of digital media-focused VC firm Raine and Obvious, which is headed by Twitter and Medium founder Evan Williams, as it grows.
Gregg Brockway, Maker’s chief executive, told TechCrunch: “This was a strategic raise to get value-added investors involved in the business.
“The investment speaks to the growth and promise of Maker Media as a platform offering makers around the world content, commerce, and community opportunities.”