US-based news provider Mashable secured $17m in a series B round yesterday led by Time Warner Investments, the strategic investment subsidiary of media and entertainment conglomerate Time Warner.
All of Mashable’s existing investors, including Tribune Digital Ventures, the corporate venturing unit of multimedia company Tribune Media, Updata Partners, New Market Ventures Partners, Social Starts and various angel investors, also took part in the round.
Established in 2005, Mashable runs an online news website reporting on a range of topics within digital innovation including such as social media, technology, business, entertainment and lifestyle.
The company has also put significant editorial effort into content for other platforms such as social media networks Twitter, Facebook and Vine in order to reach audiences.
Mashable previously closed a $14m series A round in March 2014 led by Updata. It will use the funding to hire more than 100 staff, and to invest in video production and further development of Velocity, its news alert app for wearable technology platform Google Glass.