Minute Media Raises $40M In VC In Latest Funding Round

Minute Media has raised $40M in "venture capital in its latest fundraising round," according to Sara Fischer of AXIOS. Sources said that the "post-money valuation" for Minute Media, which owns The Players' Tribune and The Big Lead, is more than $500M. Fischer noted the company has raised $160M "to-date." The round is being led by Dawn Capital, an "early stage venture capital firm, with participation from existing investors." The money will be used to "make continued investments" in the Players' Tribune. It will also "help fund further acquisitions and to globally expand and improve its technology stack." Minute Media has "acquired four digital media companies in the last five quarters, mostly in the sports and entertainment space" (AXIOS.com, 2/26).