US-based digital media company Woven Digital has secured $18m in a series A round which included talent and literary agency United Talent Agency.
The round was led by Institutional Venture Partners and also featured American football franchise San Francisco 49ers, venture capital firm Advancit Capital and several angel investors including former professional basketball players Baron Davis and Jermaine O’Neal.
The company previously raised $5.5m from undisclosed investors in a 2011 seed round.
Woven operates two online pop culture publications targeted at millennials: entertainment news site Uproxx, which has a monthly audience of 26 million users, and lifestyle website Brobible.
The series A funding will support advertising sales efforts, an increase in the amount of content on Woven’s sites and the continual development of its news technology platform as it grows its original video production unit, Woven Studios.
Colin Digiaro, president of Woven, said: “We have worked hard to assemble the pieces needed to fulfil our vision of becoming a dominant pop culture media and content company. This financing will be the catalyst that enables us to more quickly execute.”