Miami, Fla.-based digital media company Recurrent Ventures closed $300 million in new capital led by funds managed by Blackstone Tactical Opportunities (“Blackstone,”NYSE: BX).
Existing investors, including North Equity, Powerhouse Capital, and Raga Partners, have committed additional capital.
The company will use the new funds to continue to scale its operations, through hiring and talent development, utilizing new engagement channels, expanding its video presence, and introducing new content offerings for audiences.
Founded in late 2018 by North Equity’s Managing Partners, Andrew Perlman and Matt Sechrest, as a platform to acquire and transform digital media brands, and led by Lance Johnson, CEO, Recurrent is a digital media company whose titles include Popular Science, Domino, JancisRobinson.com, Field & Stream, Donut Media, and Task & Purpose. Since 2018, the company has acquired 24 digital media brands across its target verticals of Science, Tech, Outdoor, Home, Automotive, and Military.
Recurrent is a virtual-first company employing talent across the U.S., with its headquarters in Miami and offices in Los Angeles, New York and San Francisco. The company employs over 300 full time employees and 475 creative contributors, with editorial and creative teams accounting for the majority of the workforce.
FinSMEs
18/05/2022