By Eric Fisher , Staff Writer, SportsBusiness Journal Blog outfit SB Nation has closed on a $7.95M Series B investment round, with the new round led by Comcast’s venture arm Comcast Interactive Capital. Several initial investors, including Accel Partners, Allen & Co., and Capitals Owner Ted Leonsis also renewed their commitments. The money adds to a roughly $5M investment round from last fall, and will be primarily used to manage and expand SB Nation’s rapid growth. Monthly traffic to the network of SB Nation blog sites now exceeds 7 million, according to internal metrics, more than triple measures of last fall. The new round places a valuation on SB Nation of $25-30M, according to industry sources. “We’re thrilled to not only secure a new round of financing during tough economic times, but to get it done with such perfect partners for our company,” SB Nation Chair & CEO Jim Bankoff said on his blog. “CIC understands what we do, and they are eager to see us take the company to new levels by focusing on the principles and hard work that have contributed to our success to date.”
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