Waterfront Media Gets $25 Million In Funding
Waterfront Media sounds big, and it is – properties like EverydayHealth.com receive millions of visits per month. Waterfront Media is also big in a financial sense, and a new round of funding brought it $25 million more.
Sticking with the “big” theme, we think you’ll recognize some of Waterfront Media’s investors; Time Warner Ventures was involved, and so was Scale Venture Partners (which has seen several of the companies in its portfolio get acquired by Yahoo and Microsoft). Other names include Foundation Capital, Rho Ventures, BEV Capital, and Neocarta Ventures.
This team effort should result in some important upgrades to Waterfront Media and Everyday Health. “Waterfront Media will use the financing to grow the Everyday Health Network . . . increase the size of its advertising business and make acquisitions in its ongoing effort to become the number one health destination on the web,” according to the release.
Which should, of course, benefit the company’s users at some point – they’ll need to be brought along on the ride. Keep an eye out for fresh content from new sources.
Hat tip to Silicon Alley Insider’s Dan Frommer.