Sugar Inc, a media company that caters exclusively to women, has closed a $15 million funding round led by Institutional Venture Partners, with participation from existing investor Sequoia Capital. The company has now raised $46 million in total since it was founded in 2006.
Sugar’s flagship site is PopSugar, and it also home to social shopping site ShopStyle, a free blogging platform for users called OnSugar, and a variety of topical blogs including FitSugar (fitness), PetSugar, and BuzzSugar (gossip). It draws 20 million visitors per month between its sites.
Sugar says that the company, which has been profitable for the last year, plans to use the new funding for further acquisitions (it bought virtual fashion assistant MyPerfectSale last October), international growth, and to extend its brand.
The company’s last round of funding was a $16 million raise in June 2009 — a report that it raised $30 million in June 2010 was bogus.
Sugar’s mission is to entertain and delight its audience with insanely addictive content and commerce. Through an online global network, Sugar brings to life what is personally relevant to modern women everywhere – whether it’s a red carpet moment, an inspiring fitness tip, or an exclusive shopping event. Sugar has over 25 million monthly unique visitors worldwide. The company was founded in 2006 by Lisa and Brian Sugar and is backed by leading investors Sequoia Capital and Institutional Venture...
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