BuzzFeed has completed a Series D financing of $19.3 million led by NEA. Previous investors RRE, Hearst, SoftBank, and Lerer Ventures participated. Michael and Kass Lazerow, serial entrepreneurs and co-founders of Buddy Media, joined the round as new investors.
In December, BuzzFeed passed 40 million unique monthly visitors (Google Analytics), with growth driven by social (Facebook, Twitter, Pinterest) and mobile (over one third of all BuzzFeed traffic), says the company. The company also grew revenues more than threefold in 2012, exclusively from content-driven, social advertising, and grew staff to 180 employees.
BuzzFeed says it will use the capital to further mobile development, expand geographically, grow its editorial team, invest in video, and work on new initiatives that will be announced later in the year.