Digital media company Vox Media raises $46.5 million

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Vox Media has closed a funding round of $46.5 million, putting it among other digital media companies, including BuzzFeed and Vice, that have attracted major recent investments at sizable valuations. The Series E round values the company at $380 million, according to the New York Times. The investment came from only one firm: General Atlantic. Since the company’s first major funding round in 2009, it has raised about $107 million.

Vox Media, a publisher with a fast-growing portfolio of online lifestyle and news brands, will announce on Monday that it has just closed a $46.5 million round of financing from General Atlantic, a New York investment firm. The investment values the company at $380 million, according to a person with knowledge of the deal, and it comes at a time when digital-media companies are suddenly of interest to venture-capital firms. In August, BuzzFeed, the news and entertainment site, raised $50 million in new financing, a number that valued the company at roughly $850 million. To put that in perspective, when Jeff Bezos of Amazon bought The Washington Post in 2013, he paid $250 million. Anton Levy, head of General Atlantic’s Internet and technology team, said his firm — like other investors — had typically avoided content creators like Vox in favor of platforms with many capabilities like Facebook and Alibaba. Lately, he said, the firm has had a change of heart.

 

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