US-based digital publishing platform Playbuzz secured $15m in series C funding yesterday from investors including an unnamed subsidiary of entertainment and media conglomerate The Walt Disney Company.
Saban Ventures, the venture capital branch of media investment firm Saban Capital Group, led the round, which included 83North, Carmel Ventures and FirstTime Ventures, all four having taken part in Playbuzz’s $16m series A round in March 2015.
Playbuzz operates a network used by publishers and brands to create and share visual, video or text-based content, utilising its analytics tools to better engage with users, optimise the content and increase traffic.
Shaul Olmert, co-founder and chief executive of Playbuzz, said: “Playbuzz enables publishers and brands to create content that matches today’s content-consumption habits, while generating meaningful engagement and new monetisation opportunities.
“The support of global leaders in media, such as Saban and Disney, will enable us to expand both our editorial reach and sponsored content business.”
The round, which lifted Playbuzz’s overall funding to $34m since it was founded in Israel in 2012, will be used to strengthen the company’s platform and grow its sponsored content activities.