Date: Oct 12, 2021 Author: Amit Chowdhry Source: Pulse 2.0 (
click here to go to the source)
Recurrent Ventures recently announced it raised $75 million in a round of financing. This investment round brings the company's funding to over $100 million in capital to date. Provided by North Equity LLC, this new funding will be used to acquire other digital media properties and to make additional investments in its current digital media portfolio and employees.
The company dates back to December 2018 when North Equity purchased The Drive from Meredith Corporation. And North Equity continued to buy digital media properties through January 2021, including BobVila.com, Car Bibles, Task & Purpose, Field & Stream, Popular Science, and Domino. And in June, North Equity announced that Recurrent would be the new parent company for all of the digital media brands, while the venture equity firm would remain the company's main investor and continue to focus on digital media-related investments. Since then, Recurrent has continued to expand its portfolio, with the additions of MEL and Futurism in July and JancisRobinson.com in August.
Recurrent is based in Miami, with additional offices in New York and San Francisco -- coupled with a virtual-first workforce across the United States. And to further its mission of creating a sustainable, equitable, innovative digital media company, Recurrent is rapidly expanding its workforce.