Science Inc., a Santa Monica, Calif.-based technology operating company specializing in the creation and development of digital businesses, received a minority equity investment from Hearst Ventures.
The terms of the transaction were not disclosed but reports said the investment could amount to $30m. In conjunction with the deal, George Kliavkoff, executive vice president and deputy group head of Hearst Entertainment & Syndication, will join Science’s Board of Directors.
Founded in November 2011 with Series A funding from several venture investors, including Eric Schmidt’s Tomorrow Ventures, Rustic Canyon Partners, and White Star Capital, Science creates, scales and acquires digital businesses by bringing together ideas and resources and financing through a centralized platform. Led by Michael Jones, CEO, it has already started 13 companies including DollarShaveClub, DogVacay, Ellie, Uncovet, etc.