Digital publisher Mashable which focuses on technology and entertainment news, has raised $15 million in a funding round led by Turner with participation from Time Warner Investments (a division of Turner’s parent company Time Warner Inc.), Updata Partners and several other investors contributed to the funding round.
The raised funding will be used to further expand Mashable’s video offerings across all platforms including linear TV, enhance its proprietary technology and data platforms, and bolster its premium advertising offerings, with a focus on growing the company’s branded video division.
As part of the deal, Kevin Reilly, chief creative officer for Turner Entertainment and president of TBS and TNT, will join Mashable’s board. “We’re confident our partnership will increase the cultural relevance of Turner and Mashable content across all of our platforms,” said Reilly.
Last year, Mashable raised $17 million from Time Warner Investments. Last June, it also launched Mashable Studios, a division which creates video programs for the website, social networks, television partners and other platforms.