Everyday Health, Inc., a New York-based provider of online consumer health solutions, has held a $20m first close of a new financing round.
The round was led by Technology Crossover Ventures, with participation from existing investors Rho Ventures and Scale Venture Partners.
The company intends to use the new capital for strategic acquisitions.
According to a press release, the $20m initial funding could increase to $50m. In addition, as a result of the financing, Everyday Health will withdraw its registration statement for an initial public offering with the SEC.
The company provides content and advertising-based services across a broad portfolio of over 25 websites (including among the others www.EverydayHealth.com, www.SparkPeople.com, www.WhatToExpect.com), spanning the health spectrum – from lifestyle offerings in pregnancy, diet and fitness to in-depth medical content for condition prevention and management.