Say Media, a US-based publisher, has raised $27m from a consortium including advertising agency WPP.
Alongside WPP in the round are venture capital firms New Enterprise Associates (NEA), Shea Ventures, Correlation Ventures, August Capital, First Round Capital, Maveron, Focus Ventures and Neoteny.
Matt Sanchez, chief executive of Say, said: “The new round of financing, which comes on the heels of worldwide publisher of Time magazine Kim Kelleher being named Say’s new president.”
Say was formed in Novembwer 2010 by the merger of VideoEgg – founded in 2005 – with Six Apart and after the merger acquired ReadWriteWeb in December.
VideoEgg had raised about $40m from venture capital firms August Capital, First Round Capital and Maveron.
Six Apart had raised more than $22m in total from Intel Capital, the corporate venturing division of US-listed semiconductor company Intel, and VCs August Capital, Focus Ventures and Neoteny and angel investor Reid Hoffman, chief executive of LinkedIn. Six Apart raised $12m in early 2006 as a series C round.