Medium Raises $54M, Will Maintain Occasion On October seventh To Announce New Options And Partnerships
In the present day, publishing platform Medium introduced that it has introduced in $54M in new capital in a collection B led by new investor Andreessen Horowitz. That makes the full raised for Ev Williams’ Medium a hefty sum of $79M.
From head of operations at Medium, Andy Doyle:
We’re happy to announce that Medium just lately raised $fifty seven million in capital. The spherical was led by new companion Andreessen Horowitz with vital participation from Google Ventures and Greylock Companions, who additionally led our Collection A. We’re additionally lucky to rely Apparent Ventures, The Chernin Group, and numerous our Collection A angels as buyers this spherical. And, in fact, Ev, who based Medium and stays our majority shareholder. This funding strengthens Medium for the foreseeable future and permits us to proceed, heads down, operating arduous to completely understand our imaginative and prescient.
On what it’s going to do with the cash? Doyle says it’s going to go to creating Medium “the dominant pipeline for connecting high quality content material and dialog,” which is fairly broad. Medium has toyed round with a couple of fashions, together with hiring its personal journalists and beginning its personal mini-publications. No prime-tier publication has up and moved to Medium although, however that would change with every part new that’s occurring within the area because of Fb and maybe Google.
The corporate additionally says that it is going to be holding an occasion on October seventh to announce new options and partnerships.
Extra to return.