Breaking Media has raised a new funding round of $1.5 million.
That’s on the small side compared to some of the big rounds announced by online media companies last year, particularly BuzzFeed and Vice Media.
However, as CEO John Lerner explained when we met earlier this year, Breaking Media has a different strategy. Instead of trying to attract hundreds of millions of millennial eyeballs, it’s focused on B2B audience — in other words, it writes about industry news for industry professionals with sites like Above the Law, Dealbreaker and Fashionista. (Lerner admitted that Fashionista is a bit of an outlier, since fashion attracts more casual readers.)
The company says it’s profitable and currently reaches 5 million unique visitors each month. It has also grown through acquisitions, buying industry news sites from AOL (which owns TechCrunch) and acquiring MedCity News.
“This funding will help us accelerate our growth and look to expand into new verticals to remain the leading destination for industry insiders who want not only to be informed but entertained,” Lerner said in the funding release.
The funding came from undisclosed new and existing investors. The company previously raised a $1.3 million round back in 2010.