Entertainment news site operator Zimbio has announced $8.9 million in Series B funding, money the company said will be used to add editorial staff, build a media sales team and fund upcoming product launches.
San Carlos, Calif.-based Zimbio operates, according to comScore, the fifth largest entertainment news site, Zimbio.com, and seventh biggest online fashion and beauty destination, StyleBistro.com, collectively reaching an audience of 30 million unique users a month.
The Series B round was led by Menlo Ventures, which also spearheaded an initial round of $6.9 million in funding for Zimbio back in August 2007. (The company was founded in 2006.)
The latest funding is a combination of equity and debt financing, with original investor Draper Associates, as well as Great Oaks Venture Capital, Fenwick & West Investments and Comerica Bank also participating.
“This investment will facilitate development of new teams and technology at Zimbio and support its expansion into new markets,” said John Jarve, managing director of Menlo Ventures.