GigaOM announced Wednesday that it raised $6 million in expansion funding. Reed Elsevier Ventures led the round for the news and conferences business, with existing investors Alloy Ventures and True Ventures also participating.
GigaOM Raises $6 Million in Funding
Leading business and technology media company will use funding to expand its rapidly growing GigaOM Pro subscription-based research business, extend editorial leadership, and build its portfolio of industry-leading conferences
San Francisco, May 25, 2011 – GigaOM, a leading business and technology media company, announced today that it has raised $6 million in expansion funding. Reed Elsevier Ventures led the round, with existing investors Alloy Ventures and True Ventures also participating.
“As the venture capital arm of one of the largest global media companies, Reed Elsevier Ventures is the ideal investment partner for GigaOM, bringing their focused expertise and contacts in events, media, research and content monetization to GigaOM as we accelerate into the next phase of growth,” said Paul Walborsky, CEO of GigaOM. “We’ve just finished a record-breaking year – launching GigaOM Pro, hosting sold-out conferences and expanding our award-winning editorial coverage. This new investment will enable GigaOM to continue on this rapid growth trajectory.”
GigaOM will use the funding to expand the number of analysts in the GigaOM Pro Analyst network, which currently includes over 100 vetted, independent analysts covering a wide array of emerging technology topics of critical importance to industry leaders. GigaOM Pro has quickly become a leading source of impartial analysis on technology-focused market trends. It delivers world-class research via an innovative and collaborative model that allows subscribers and experts to exchange ideas online. This new, disruptive model for delivery of, and participation in, high-quality research has established GigaOM Pro as the de facto research tool for professionals who work in or serve emerging technology markets.
With this new funding, GigaOM will also invest in enhancements to the GigaOM Pro technology platform, building out its go-to-market capability to deliver the subscription-based research service to more enterprise customers, as well as new global markets. In addition, GigaOM will continue to build momentum for its leading editorial sites and conferences by growing its audience base and expanding events to cover new markets and cities.
“GigaOM is already a huge success story; they’ve built a global business and technology media company based on intelligent news analysis, impartial research, and high-profile conferences frequented by the technology digerati,” said Kevin Brown, general partner at Reed Elsevier Ventures. “We only invest in media companies with the potential to become hugely profitable global companies, and GigaOM – with its innovative subscription research business, growing readership, and strong conference business – is firmly in that camp.”
The funding round comes on the heels of a year of record growth for GigaOM, which continues to bolster its position as the leading independent voice of the technology industry. GigaOM Pro has already attracted dozens of Fortune 500 enterprise accounts and exponentially increased its individual subscriber base since it launched just over one year ago. GigaOM’s online media sites now count 4 million unique visitors a month, growing at 30% annually, while its seven industry conferences, including Structure, Structure Big Data, Green:Net, Mobilize, NewTeeVeeLive, and Net:Work are among the most well-attended events in the technology industry.
About GigaOM Founded in 2006, GigaOM has grown into the leading provider of online media, events and research for global technology innovators. The company is one of the most credible and insightful voices at the intersection of business and technology, with an online audience of more than 4 million monthly unique visitors; industry-leading events, including Structure, Mobilize, NewTeeVee Live, Net:Work, Green:Net, and Structure Big Data; and a pioneering market research service and digital community, GigaOM Pro, which provides insider access to expert analysis on emerging technology markets.
About Reed Elsevier Ventures
Reed Elsevier Ventures is the corporate venture capital fund of Reed Elsevier. Since its founding in 2000, Reed Elsevier Ventures has made a number of successful investments in the US, Europe and Israel. The fund focuses on investments in internet, media and technology companies. Reed Elsevier Ventures looks to back strong and innovative management teams who have the passion to challenge the status quo. We look to invest in companies that have the potential to transform the economics or outcomes of a market with a new approach, business model or technology. Reed Elsevier Ventures will lead rounds or co-invest as part of a syndicate and will typically invest between $1M and $10M initially, depending on the stage of the investment.
About Alloy Ventures
Based in Palo Alto, California, the partners of Alloy Ventures have been providing venture capital funding to entrepreneurs since 1977. With over $1 billion under management, Alloy’s focus is on the next generation of ground-breaking Life Science, Information Technology and Cleantech companies. Our current portfolio includes companies like Barrx, Mavenir, Molecular Imprints, NuGen, Optimedica, Pacific Biosciences, Teradici, ViVotech, and YouSendIt which are poised to become the next global leaders. Additional information is available on our website at www.alloyventures.com.
About True Ventures
True Ventures is a Silicon Valley-based venture capital firm supporting great people in great markets since 2006. Started by entrepreneurs for entrepreneurs, the team provides funding, resources, and counsel to early stage, high tech startups and their visionary founders. Our portfolio includes investments in WordPress, BrightRoll, Fitbit, Bandcamp, Milo, Puppet Labs, Urban Airship, and StockTwits, to name a few. For more information on True Ventures, please visit www.trueventures.com.