Alloy Digital, LLC, a a New York-based media company for the 12-34 demographic and a video network, raised $30m in Series A funding.
Backers included ABS Capital Partners, with participation from existing investor Zelnick Media.
In conjunction with the funding, Deric Emry, General Partner at ABS Capital, joined Alloy’s board.
The company intends to use the capital to advance product development and technology, add complementary properties and hire new people.
Led by CEO Matt Diamond, Alloy Digital is an operator of youth-focused websites and television channels that targets the 12-34 year-old demographic. Since July 2011, the company has acquired Smosh, Generate, B5 Media, Clevver and The Escapist. It also controls ClevverNews, ClevverTeVe, Shut Up! Cartoons, and SMOSH Games.
Alloy’s digital media and video network currently connects to a total audience of more than 90 million consumers. The network also includes Gurl and Teen. Additionally, the company counts more than 30 million followers across its multiple social media profiles.