Today, publishing platform Medium announced that it has brought in $57 million in new capital in a series B led by new investor Andreessen Horowitz. That makes the total raised for Ev Williams’ Medium a hefty sum of $82 million.
From head of operations at Medium, Andy Doyle:
We are pleased to announce that Medium recently raised $57 million in capital. The round was led by new partner Andreessen Horowitz with significant participation from Google Ventures and Greylock Partners, who also led our Series A. We are also fortunate to count Obvious Ventures, The Chernin Group, and a number of our Series A angels as investors this round. And, of course, Ev, who founded Medium and remains our majority shareholder. This investment strengthens Medium for the foreseeable future and allows us to continue, heads down, running hard to fully realize our vision.
Doyle says the money will go to making Medium “the dominant pipeline for connecting quality content and conversation,” which is pretty broad. Medium has toyed around with a few models, including hiring its own journalists and starting its own mini-publications. No top-tier publication has up and moved to Medium, though, but that could change with everything new that’s happening in the space thanks to Facebook and perhaps Google.
This isn’t Ev’s first rodeo in publishing, having sold Blogger, by way of Pyra Labs, to Google in 2003. It’s also another big win for the #TwitterMafia, with Jack Dorsey rumored to be taking Square public by the end of the year.
The company says that it will be holding an event on October 7 to announce new features and partnerships.