Female-focused online media company Sugar has raised $15 million in a new round of funding led by Institutional Venture Partners; existing backer Sequoia Capital also participated. The company says it will use the new cash “for brand extensions, acquisitions, and international growth.” Its existing portfolio of sites, which includes flagship PopSugar, attracts 20 million unique visitors a month.
Sugar had already made several acquisitions over the last year aimed in part at diversifying its revenue beyond display advertising. It picked up private sales site MyPerfectSale in October, as well as daily deals site FreshGuide in June.
The company’s latest funding round brings its total backing to $46 million. Sugar had most recently raised $16 million in a funding round in June 2009. It used some of the proceeds of that round to buy back the shares it had sold in 2007 to NBC Universal (NSDQ: CMCSA). The media conglomerate at one point handled Sugar’s ad sales, although it took back those operations nearly three years ago.
Some more details in the release here.