Minute Media secures fresh investment

Sports media and technology company Minute Media has closed a $15m (€14.1m) investment round, bringing its total funding since its inception in 2011 to $60m.

The round was led by Qumra Capital, an Israeli late-stage venture fund, and included existing investors Battery Ventures, Dawn Capital and ProSieben.

Minute Media said it will use the funds to further its expansion into key global markets ahead of football’s Fifa World Cup in Russia next year. Proceeds will also help Minute Media introduce several new sports brands and expand its editorial and commercial teams around the world.

Minute Media is the parent company of fan-driven sports media platform 12up and 90min, a football-specific media platform.

Minute Media has experienced significant growth over the past 12 months, having seen its number of monthly users rise from 30 million to 70 million.

Last May, the company opened new offices in Sao Paulo, Singapore and Tokyo and the new funding will continue its development in these markets, as well as in London, New York, Tel Aviv and Manila.

Minute Media will also develop an esports brand in April that will seek to leverage key event and league rights, team relationships and a range of video and editorial formats.

“We believe that Minute Media will become the world leader in the digital sports industry, particularly for the millennial generation, an attractive audience for Minute Media partnerships with both advertisers and publishers,” Boaz Dinte, managing partner at Qumra Capital, said.