Digital media company Mashable is expanding its video ambitions, with the help of a new $15 million Series C funding round led by Turner, a division of Time Warner.
Mashable will use the cash to ramp up its video offerings across all platforms, including linear TV, and grow its branded video division, as well as enhance its proprietary technology and data platforms and bolster its premium advertising offerings
As part of Turner’s investment, it will partner with Mashable for video production, technology and advertising opportunities. Additionally, Kevin Reilly, chief creative officer for Turner Entertainment and president of TBS and TNT, will join Mashable’s Board of Directors.
“Just as we are redefining these networks and continue to innovate beyond the traditional television universe, Mashable is redefining digital storytelling, making us ideal partners in today’s rapidly evolving media ecosystem,” said Reilly in a statement.
Initial collaborations between the two companies will include the development new programming ideas and franchises using the Mashable Velocity prediction and tracking tool, distribution of select Turner programming to Mashable’s digital audience, and the creation of cross-platform sales opportunities.
Currently headquartered in New York City, Mashable was founded in Aberdeen, Scotland, in 2005 by Peter Cashmore, who was 19 at the time. Today, it boasts an audience of 45 million monthly unique visitors and 28 million social followers.
Over the last year, Mashable has more than doubled its video production, spurring a 400% growth in cross-platform video videos views, according to the company, which says it’s also seen branded content revenue grow 69% year-over-year.
The growth comes courtesy of its Mashable Studios division, launched in June 2015 to create serialized video programming and branded entertainment for the company’s website, social networks, television partners and OTT platforms.
Earlier this month, Mashable announced that it is teaming with Bravo Media to co-produce four short-form original digital series. The first series in the deal is scheduled to be released in the late spring of 2016. Earlier, the two companies parntered on “Real Thoughts with Real Housewives,” a short-form digital spin-off series featuring stars of Bravo’s “Real Housewives” franchise.
“Tech is the current vehicle giving this generation a voice; it is the new cultural lynchpin on which all other creative pursuits rely,” said Mashable CEO Cashmare in a statement. “There is enormous opportunity for a brand that combines tech credibility with cultural influence. Mashable brings that to this next era of media. The most exciting thing right now is the future of TV.”