Menlo Ventures has led an $8.9 million Series B round for Zimbio Inc., owner of websites including Zimbio.com and StyleBistro.com. Great Oaks Venture Capital, Fenwick & West Investments, Draper Associates and Comerica Bank also participated in the round, which will be used to expand product and editorial staff.
Zimbio Inc., parent company of the fifth largest entertainment website Zimbio.com (comScore) and seventh largest fashion and beauty website StyleBistro.com (comScore), announced today the company has raised $8.9 million in a Series B funding. The round is a combination of equity and debt financing led by Menlo Ventures, with participation by Great Oaks Venture Capital, Fenwick & West Investments, Draper Associates and Comerica Bank. The capital will be used to scale Zimbio’s product and editorial staff, build a media sales team, and fund upcoming product launches.
“Our investors recognize that people are consuming digital content in fundamentally new ways, and Zimbio is positioned to win big in the changing media landscape,” says Tony Mamone, CEO at Zimbio, Inc. “We’ve found a successful formula to quickly build top-ranked properties by publishing deeply engaging content at an unparalleled scale. This funding will allow us to aggressively expand our teams, technology, and product offerings.”
In addition to a recent redesign of both sites, Zimbio was also pleased to debut its 4th annual list of the 100 Hottest Celebrity Couples. The company recently opened a second office in New York City, NY.
“We’re convinced that Zimbio has built the best editorial tools in the industry and can publish multimedia experiences at an unmatched scale,” says Menlo Ventures Managing Director John Jarve. “This investment will facilitate development of new teams and technology at Zimbio and support its expansion into new markets.”
With over $4 billion under management since 1976, Menlo Ventures is widely respected as one of the largest technology venture funds in the world. Actively involved in almost every one of their portfolio companies, Menlo views themselves as true partners to their entrepreneurs with a shared goal of disrupting and leading every space in which their companies participate.
Counting more than 30 million unique monthly global readers (per Quantcast) to their websites, Zimbio Inc. is poised for a new leadership role in the highly competitive world of online media.
About Zimbio, Inc.
Zimbio Inc., parent company to Zimbio.com and Stylebistro.com, reaches an audience of more than 30 million global monthly readers across fashion, beauty, celebrity and entertainment. Zimbio.com is comScore’s #5 Entertainment News site. Launched in July 2010, StyleBistro.com is comScore’s #7 Fashion, Beauty and Style site, entering comScore’s top ten in its first year. Brands are connected with this deeply engaged and influential audience through high impact media placements and innovative content integrations. The company has offices in San Carlos, Calif. and New York City, and is venture-backed by Menlo Ventures, Draper Associates, and Great Oaks Venture Capital.
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