Woven Digital, a Los Angeles-based digital media company which publishes entertainment sites, secured $18m in Series A funding.
The round was led by Institutional Venture Partners with participation from Advancit Capital, The San Francisco 49ers, United Talent Agency, Buddy Media co-founder Mike Lazerow, and former NBA players Baron Davis and Jermaine O’Neal. In conjunction with the funding, Somesh Dash, a principal at IVP, joined Woven’s board of directors.
The company intends to use the funds to bolster the ad sales team, increase editorial content production, accelerate development of its technology, and expand Woven Studios, its original video production arm which develops branded programming and original video content for top brands including Boost Mobile, EA, Miller/Coors, Sony Pictures, FX, Comedy Central, AT&T, Anheuser Busch, Motorola, Bacardi, among others.
Founded in 2010 by CEO Scott Grimes and Michael Laur, and also led by and Colin Digiaro, President, Jarret Myer, GM of Publishing, Matthew Polesetsky, General Counsel, and Ben Blank, Chief Creative Officer, Woven Digital publishes pop culture news and entertainment sites including UPROXX, an entertainment news site geared toward millennials which reaches more than 26 million users per month, and BroBible, a young male college lifestyle site. It reaches nearly 5 million visitors daily and 90 million users monthly with nearly 60% of its viewership coming via mobile devices.
The company also has offices and production facilities in New York and Chicago.