Mashable Raises $13M In Its First Outside Funding

Mashable has raised $13 million in Series A funding. CNN (which was previously rumored to be in talks to buy Mashable) broke the news, and Mashable has confirmed the funding in a post of its own.

Founded in 2005, the site has since expanded from its initial focus from tech, particularly social media, to include entertainment, lifestyle, and other news. In the funding post, founder Pete Cashmore writes that Mashable reaches more than 30 million monthly visitors, with a team of more than 120 full-time employees, and that this is the company’s “first ever capital raise.”

The round was led by Updata Partners (a growth equity firm), Mashable says, with participation from New Market Ventures Partners, Social Starts, Buddy Media co-founders Michael and Kass Lazerow, Iglo Group CEO Elio Leoni Sceti, and Havas Global CEO David Jones.