Digital publishing company and ad network Say Media, which is home to brands like ReadWriteWeb and Remodelista, has raised $27 million in funding. The company will use the funding to acquire more brands and expand its platform.
The round was led by new investors New Enterprise Associates, Shea Ventures and Correlation Ventures and included participation from previous investors.
“The intersection of Madison Avenue and Silicon Valley is really where we see the future of media and we are well-positioned to lead the publishing industry into a digital world,” Say CEO Matt Sanchez said in a statement.
Last week, Say appointed Time magazine publisher Kim Kelleher as its new president. She will start in September. The company now owns six properties and has exclusive partnerships with 13 others, including Fashionista and food52. Its ad network includes 500 sites and the company says it reaches a global audience of 400 million.
This is technically Say’s first round of funding. Its predecessor entities, ad network VideoEgg and blog platform Six Apart, each raised several rounds as separate companies, totaling $79 million.