Glam Media, a publishing network that boasts No. 1 position among women worldwide, on Tuesday announced $50 million in private equity funding.
The Brisbane, California, startup plans to use the financing to expand into new markets around the world, launch new channels, and buy companies to build its brand.
“In a short 5 years since launch, Glam Media has become a ‘must-buy’ for the world’s leading brand advertisers,” said Samir Arora, chairman and CEO of Glam Media, in a statement.
The fifth round of funding was led by Aeris Capital and had participation from Burda Digital Holding and Mizuho Capital. The funding round brings Glam Media's total cash raised to $130 million.
Under the deal, Marcel Reichart, who serves as managing director at DLD Ventures, an investment arm of Burda Digital Holding, will join Glam Media's board of directors, the company said.
“Glam Media has successfully demonstrated a highly scalable content and premium ad platform, which delivers value and innovation to global brand advertisers and publishers,” Mr. Reichart said in the statement.
Glam Media claims a content network that spans over 1,400 publishers. The startup said sales have shot up 300 percent in the past two years and that it reported break-even net income for the fourth quarter of 2009.
The company in October 2008 launched Brash.com, an online men's lifestyle network the company claims is the leading such destination.