Giant Realm, a New York-based online media company focused on 16-34 year-old males, has raised $2 million in additional Series A funding from SoftBank Capital. Last month, the company announced a $3.5 million first close from
Giant Realm, Inc., the rapidly growing online entertainment portal and publisher group reaching men 18-34, today announced that it has received $2 million in funding from SoftBank Capital. Last month the company announced a $3.5 million dollar investment led by Comcast Interactive Capital, with Edison Venture Fund also participating. This infusion of cash from SoftBank Capital rounds out Giant Realm's Series A fundraising efforts. The
The funds will be used to fuel further expansion of the Giant Realm online platform, which most recently attracted 4.2 million unique monthly visitors, according to March 2008 comScore Media Metrix data. The platform includes both the GiantRealm.com site, a lifestyle portal for the entertainment junkie and video gaming audience, as well as the Giant Realm Publisher Group, an exclusive family of sites delivering content and community across a variety of entertainment and gaming interests. Expansion plans also include the hiring of additional sales, editorial, and operations staff, as well as the building out of sales offices in both
As part of its investment, Jordan Levy, Partner NY, SoftBank Capital, has joined Giant Realm's board of directors and Michael Perlis, Partner, SoftBank Capital, has been named as a board observer. Mr. Levy is an experienced operating executive with expertise in sales and marketing. He has led two lasting billion dollar technology companies to successful exits and has operated three venture funds that realized upper quartile returns. In 1985, Mr. Levy helped found Ingram Micro and grew the company to $1 billion in revenue. Ingram Micro is currently the largest technology distributor in the world. Mr. Perlis has more than 20 years of experience managing a wide range of content and multi-media brands and has held the positions of President and CEO of Ziff-Davis Publishing, President of TVSM, President and CEO of IDG, Publisher of GQ, and built the Rodale Active Sports Network.
“We continue to witness an evolution towards a more fragmented media landscape online, especially amongst the “in the know” male 18-34 demographic, as new long-tail sites, communities, and blogs capture their attention,” said SoftBank Capital's Jordan Levy. “Giant Realm recognizes this evolution, and is able to provide scale and access for advertisers by aggregating and connecting with these audiences in meaningful ways.”
“During a time when many Web 2.0 companies are struggling to attract the funds necessary to move them to the next level, we have been able to secure financing from some high caliber investment firms that are focused on our space,” said James Green, CEO, Giant Realm, Inc. “We are additionally grateful to be receiving strategic counsel from SoftBank's Mike Perlis and Jordan Levy, two accomplished executives whose combined expertise in media, technology and early stage companies is a perfect match for Giant Realm.”
To help manage the company's long term growth plans, Giant Realm has hired Alan Pearlberg to the newly-created position of vice president, Business Development, the company also announced today. Mr. Pearlberg is charged with heading up operations, managing the publisher group, and identifying new sources of revenue for the company. A seasoned executive with proven results of establishing infrastructure and taking digital media companies to the next level from the start-up stage, Mr. Pearlberg was most recently co-founder and COO of ElephantDrive, an online backup storage company; and MediaMath, an online display advertising exchange. Mr. Pearlberg has also held executive positions at a variety of online advertising firms including i-traffic (acquired by Agency.com), (x+1), Phorm (formerly known as 121Media) and Flipside/TMP.
About SoftBank Capital
SoftBank Capital is an independent venture capital firm focused on high-growth technology-based businesses benefiting from the rapid deployment and adoption of broadband and mobile technologies. With principal offices in Boston and New York, SoftBank Capital brings a unique combination of experience in operations, technology, strategy, corporate finance, new media and international markets to its portfolio investments. For more about SoftBank Capital see www.softbank.com.
About Giant Realm, Inc.
Giant Realm, Inc. (www.giantrealm.com) is a rapidly growing online media company which helps marketers reach the male 18-34 demographic that has disappeared from the traditional media landscape and online portals. GiantRealm.com and its growing publisher group deliver original content and community for enthusiasts of leading edge entertainment platforms within video gaming, television, film, music and humor. According to Google Analytics, the company currently reaches over 11 million individuals every month, while comScore Media Metrix's January 2008 report indicates that Giant Realm is one of the fastest growing entities on the web. Based in New York City, Giant Realm's shareholders include SoftBank Capital, Comcast Interactive Capital, the William Morris Agency and Edison Venture Fund