BuzzFeed raises $19.3M in fourth funding round, bringing total so far to $46M

Laura Hazard Owen — Thu, 03 Jan 2013 13:26:24 +0000

BuzzFeed announced Thursday morning that it’s closed a fourth funding round, raising $19.3 million and bringing the total amount it’s raised to around $46 million. Venture capital firm NEA led the round, with participation from previous investors Hearst, Lerer Ventures, RRE and SoftBank. Entrepreneurs Michael and Kass Lazerow, the founders of Buddy Media, also participated.

The company, which is known for its viral-first approach to media, says its revenue grew “more than threefold” in 2012 and it now has 180 employees and over 40 million unique monthly visitors. Mobile contributes over a third of its traffic.

BuzzFeed will use the funding to “further mobile development, expand geographically, grow its editorial team, invest in video, and work on new initiatives that will be announced later in the year.”

Last year, BuzzFeed added a number of new coverage areas and made a series of high profile editorial hires.

paidContent » Michael Lazerow

BuzzFeed raises $19.3M in fourth funding round, bringing total so far to $46M