TechMediaNetwork

Technology Media Publisher TechMediaNetwork Raises $33 Million

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TechMediaNetwork (TMN), a publisher of technology and science media, this morning announced that it has raised $33 million in funding in a Series B round led by ABS Capital Partners, with earlier backers Village Ventures and Highway 12 Ventures also participating.

TechMediaNetwork publishes news and reviews across a website network that it says reaches more than 24 million visitors on a monthly basis. Its network includes websites like Space.com, LAPTOP, Newsarama, TechNewsDaily, TopTenREVIEWS, iPadNewsDaily, SecurityNewsDaily and many more.

The company distributes content through its owned and operated websites and syndication partners, which include Yahoo, MSNBC.com and the websites of Fox News and CBS News.

TMN says it will use the additional capital to complete more acquisitions (they purchased the LAPTOP mobile technology magazine and website last June), expand its news operations and increase the distribution and monetization of its content.

ABS Capital general partner Ralph Terkowitz and principal Paul Mariani will join TMN’s board of directors as a result of the funding agreement.