Mashable, a New York City-based media company that provides news, information and other resources, raised $17m in Series B funding round.
The round was led by Time Warner Investments with participation from existing investors Updata Partners, New Markets Venture Partners, Social Starts, etc. In conjunction with the funding, Time Warner Investments’ Rachel Lam will join Mashable’s board.
The company, which has raised $31m in total, intends to use the funds to hire more than 100 more employees investing in video production across all formats and its proprietary Velocity technology, which predicts and tracks the viral life cycle of digital content, to media agencies 360i and MEC, while bolstering the editorial team.
Led by Pete Cashmore, Founder and CEO, Mashable is a digital innovation source for news, information and resources for the Connected Generation. It has 42 million unique visitors worldwide and 21 million social media followers.
The company has offices in San Francisco, Los Angeles and London.