SAY Media, a digital publishing company, has raised $27m in funding.
Backers include new investors New Enterprise Associates (NEA), Shea Ventures and Correlation Ventures, as well as existing investors August Capital, First Round Capital, Maveron, WPP, Focus Ventures and Neoteny.
The company intends to use the funding to further develop its publishing platform, grow its portfolio of media properties and fund strategic acquisitions.
Led by Matt Sanchez, CEO, SAY Media now represents 500 sites and reaches a global audience of 400 million. Over the past several months, the company acquired ReadWriteWeb and Remodelista, as well as launched Gardenista and xoJane UK. Today it owns and operates six properties and has 13 partnerships with sites including Fashionista, Gear Patrol and Food52.
SAY currently has 400 employees working in offices across the United States (San Francisco, NYC, Los Angeles, Chicago, Atlanta), Canada (Montreal and Toronto), the United Kingdom (London) and Australia (Sydney).
In conjunction with the funding, NEA’s Paul Hsiao will be joining the company’s board of directors.