Inverse Boosts Readership 700%, Raises $6 Million Series A to Bring Quality Content to Thinking GenY Men
SAN FRANCISCO, September 26, 2016-- Inverse, a next generation digital media startup focused on the future of innovation, science, entertainment, and culture and geared towards millennial men, today announced its Series A, a $6 million round led by Crosslink Capital with contributions from Bertelsmann Digital Media Investments (BDMI), and other investors including Social Starts, Bialla Venture Partners, and Vast Ventures. This brings the total investment in Inverse to nearly $8 million. Omar el-Ayat, Vice President at Crosslink Capital, will be joining Inverse's board as part of the investment.
"What makes Inverse unique is its perfect placement at the cross section of journalism and tech. They have an A-list editorial team combined with the same digital media leadership that led Bleacher Report to the success it is today," said Omar El-Ayat, Vice President at Crosslink Capital and Board Member of Inverse. "It's a true pleasure to invest in something that defies the norms and is backed by the kind of journalistic expertise behind Inverse."
Think Jesse Pinkman, Tony Stark and Richard Hendrix's publication of choice. Taking a contrarian approach to typical men's lifestyle publications, Inverse reaches a truly diverse population of the modern intellectual anti-hero instead of appealing to a single conventional stereotype. Launched one year ago in August of 2015, Inverse has surpassed many of its initial business goals, including a major increase in readership from 1 million users last fall to over 7 million unique users as of August 2016. According to Google Analytics, over 80% of their audience are male and 75% are in the millennial generation between the ages of eighteen to thirty-four. According to comScore, Inverse's composition index for their core Men 25-34 demo has averaged over 400 from May through July 2016, placing them well ahead of other millennial male oriented sites.
"We've established our brand at the intersection of culture and innovation, with a focus on covering the future as it happens in real time," said Dave Nemetz, Founder and CEO of Inverse. "We're thrilled to be working with Crosslink, BDMI, and our other investors as we build on our differentiated voice and expand our reach with more quality coverage. Today's millennial men are hunting for content on topics underserved by mainstream publications, and they're finding it on Inverse."
The latest round of financing will be used to further fuel the momentum by adding to their ranks of talent with newly appointed VP of Sales, Michael Branch, who joined after previous sales management roles at Pandora and IAC/College Humor. In Q4, Inverse will begin accepting advertising and launch its first brand campaigns with advertisers looking to engage the coveted Male 18-34 demographic. Inverse will be focused on developing premium display units and native custom content integrations including both written and video sponsorship opportunities.
"Given our focus, we evaluate hundreds of media-related companies a year," said BDMI partner Sim Blaustein. "Inverse's quality content and unique success attracting hard-to-reach male millennials will help establish them as a unique and valuable brand."
In addition to kickstarting their sales effort, Inverse recently added Alex Frons in the role of Senior Director of Audience Development, has expanded their original social video production capabilities and continues to make top grade additions to their editorial staff that will provide the kind of quality content that truly piques the curiosity and interests of the young thinking men of today.
Inverse is a next-generation digital media company covering the future of innovation, science, and culture for a millennial male audience. Through original reporting, videos, news coverage, opinion, and analysis, Inverse provides its audience with a forward-looking view on everything from space travel, to how the brain works, to what show they should be binge-watching next. Inverse has grown considerably since launching in 2015, and is based in New York and San Francisco. For more information visit http://www.inverse.com.
Media Contact: Jaclyn Hartnett, Spark: 415.321.1897, firstname.lastname@example.org
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