Minute Media, the parent company of esports media publication DBLTAP, has closed on a $40 million (£31.1 million) funding round.
The capital will support Minute Media’s global expansion, including potential acquisitions and improvements to its publishing platform.
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The round was led by European software investor Dawn Capital, and brings Minute Media’s total funding to date to $160 million (£124 million). Within the last year, Minute Media has acquired entertainment fandom-focused network FanSided and media platform The Players’ Tribune.
Asaf Peled, Founder and CEO of Minute Media, spoke on the raise in a release: “It’s been a year of rapid growth for Minute Media, with the acquisition of The Players’ Tribune, FanSided, and The Big Lead, and we are bullish on what 2020 has in store.
“We are grateful to have the confidence of industry-leading investors to support our vision of building digital publishers rooted in strong technology. This round of funding will help us invest in our technology platform and enable us to look at new digital brands as acquisition targets.”
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Dawn Capital also contributed towards Minute Media’s last funding round in June 2019. In addition to DBLTAP, FanSided, and The Players’ Tribune, Minute Media also has 90min, 12Up, Mental Floss, and The Big Lead in its portfolio.
Haakon Overli, General Partner of Dawn Capital, also commented: “The company is quickly establishing itself as a major player in the new generation of online publishing, empowering creators and audiences alike.”
Esports Insider says: With DBLTAP in its portfolio, it can only be hoped that some of this investment will find its way to the esports publication. Many esports outlets struggle with the balance of quality, quantity, and breadth for content but DBLTAP has notable figures under its banner that provide unique content without resorting to clickbait or content farming.