Wanderful Media, a US-based company that operates a network listing local sales and products, has raised $14.5m from a syndicate of media companies.
Although the company did not disclose which investors had specifically participated in the latest round, its US-based media backers comprise Advance Digital, A. H. Belo, Community Newspaper Holdings, Cox Media Group, E. W. Scripps, Gannett, GateHouse Media, Graham Holdings, Hearst Corporation, Lee Enterprises, MediaNews Group and The McClatchy Company.
Founded in 2011, Wanderful has now raised $50.5m. It operates an service called Find&Save, which enables users to browse through a list of nearby sales and products, compiling a shopping list in the process if they so wish.
Find&Save has so far been deployed across various newspaper websites in the US, but has now been launched as an app for Android. Wanderful plans to invest the latest funding in ongoing growth and innovation.
“Wanderful Media is a great revenue opportunity for the media industry as we partner together to leverage today’s technology for future growth,” said Mark Aldam, director of Hearst Corporation and a board member of Wanderful. “We are pleased with the tremendous progress Wanderful Media has made, and we’re looking forward to the upcoming opportunities Find&Save will bring to the industry.”