Business Insider, a New York-based online business information site, raised $25m in venture capital funding.
The round was led by Axel Springer Digital Ventures. In conjunction with the funding, Andreas Wiele, President Marketing and Classified Ad Models at Axel Springer SE, will become a member of the Board of Directors of Business Insider. With the investment, Axel Springer will hold a minority stake in Business Insider.
Founded in 2007 by Henry Blodget, Business Insider is a source of news for business leaders around the globe, which features a combination of reporting, video, photography, and analysis. It has local versions in seven countries and 230 employees worldwide and reaches 70 million unique visitors globally per month with 35 million unique monthly visitors (comScore, December 2014) in the US alone.
Business Insider also offers a subscription research service, Business Insider Intelligence, that provides insight, data and analysis of the digital landscape, including e-commerce, mobile and social. In addition, the company each year hosts the technology conference IGNITION.
It had previously raised around $30 million from backers like Jeff Bezos, RRE Ventures, Pilot Group, Kohlberg Ventures, Marc Andreessen, Ken Lerer and Institutional Venture Partners.