Sovrn Raises $25 million
Sovrn, which works with more than 25,000 independent websites, today announced it has secured at least $25 million to acquire and build additional products to extend its existing products and service, to help publishers do more of what they love, and less of what they don’t.
The funding, which was led by Foundry Group, along with existing investors Archer, Lexington, and Oak, was secured to enable Sovrn to build, and grow its business. Following the fundraising, discussions are already taking place with a series of businesses that complement Sovrn’s existing platform and services.
Committed to help content creators by enabling them to do more of what they love, and less of what they don’t; this investment will accelerate the growth of Sovrn’s platform and services via both acquisition and organic build.
Walter Knapp, CEO at Sovrn, comments: “We’re proud to secure such a significant new investment and endorsement from a very sophisticated group of investors. So much good work has been done in the media industry to provide products, tools and services for content creators, however, what has been lacking is a platform of Infrastructure and Data to tie all these solutions together in a cohesive manner. We now have the financial firepower to continue to acquire, build, and merge multiple products and services onto the Sovrn Platform.”
Sovrn gives content creators tools to make money; access to distribution and scale to grow their audience; and a massive data commons for extraordinary insights. Sovrn is headquartered in Boulder, Colorado, with offices in Denver, New York, and London.