Brit + Co raises $23.1m Series B to further target female millennial DIY lovers
Brit Media Inc., the company behind the media and e-commerce site Brit + Co has raised $23.1 million Series B.
Who participated in the round was clear, but a Securities Exchange Commission (SEC) filing shows that Lisa Lambert of Intel Capital has joined the company’s board, suggesting they took part.
Founded in 2011 by Brit Moran, who some describe as the “Martha Stewart of Silicon Valley” Brit + Co (the main property of the company) is an online media and e-commerce platform that provides tools to “teach, inspire, and enable creativity among women and girls.”
The site covers traditional crafts to high-tech manufacturing and is said to connect millions of users with makers, designers, chefs, and inventors.
The Brit + Co. Shop ties into the products that feature on the site, allowing users to purchase Brit Kits, subscriptions, as well as projects featured across the site’s Living, Tech, Food, Style and Health categories.
Raw numbers weren’t available for the site, but they claim to “reach” 5 million people a month, and it ranks on Alexa at 7,885 global and 2,501 in the United States.
Awful lot of money for a blog
While part of the appeal of Brit + Co is how a decent number of their posts are really clever advertorials for what their selling in their shop, the core of the business is still nothing more than a fancy blog with a quasi-Pinterest style layout.
$23.1 million on top of the $7.6 million they had previously raised in an awful lot of money for a blog, particularly one that at least publicly isn’t doing particularly high traffic given the money previously raised.
Perhaps it’s the female millennials market where the appeal comes in, and 20 something female bloggers targeting that market will always appear attractive to those on Sand Hill Road in an investment sense.
Previous investors in Brit Media who may or may not have participated in the new round include Oak Investment Partners, Index Ventures, Lerer Ventures, Cowboy Ventures, Marissa Mayer and Aileen Lee.
Image credit: Brit + Co
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