Wanderful Media, a company that partners with major American newspaper companies to bring online their Sunday “circulars” — or their flyers, deals and coupons the companies insert inside of their newspapers — continues to ravage up money. The Los Gatos, California start-ups said Monday it has raised $14.5 million in additional funding, bringing its total to more than $50 million. This is the fourth round of backing in less than two years.
Circulars (the advertising inserts with coupons from local retailers) are still critical to revenues for local newspapers. In an effort to bring them into the digital age, a consortium of some of the largest media conglomerates are investing another $14.5 million into Wanderful Media, to bring them to mobile devices. The new round brings Wanderful’s total funding to over $50 million from investors including Advance Digital, A. H. Belo Corporation, Community Newspaper Holdings Inc., Cox Media Group, The E. W. Scripps Company, Gannett Co., Inc., GateHouse Media, Inc., Graham Holdings Co., Hearst Corporation, Lee Enterprises, MediaNews Group and The McClatchy Company.
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