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.
POPSUGAR is where content and commerce connect online. As a global commerce, original content and technology company, POPSUGAR targets women 18-40 years old and delivers the biggest moments, the hottest trends, and the best tips in entertainment, fashion, beauty, parenting, fitness and food, and the ability to shop for it all, in one place. POPSUGAR has over 30M users and 50M video views per month and is also a leading fashion search engine for millions of products. Founded...
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