OZY Media raises $10 million in new funding led by GSV Capital
The new Series C funding brings the media company’s total amount raised to $35 million
Mountain View, CA— January 24, 2017 — OZY Media, the daily information source for important stories told nowhere else, announced $10 million in new funding led by GSV Capital. This latest round brings the company’s total amount raised to $35 million with previous funders including Axel Springer, Emerson Collective, and some of Silicon Valley’s top angel investors.
This significant investment in OZY’s growth comes on the heels of the company’s exceptional performance in 2016, making a decisive move into television and live events, developing two additional revenue streams and achieving 5x growth.
“Media is only average right now; it lacks energy, creativity, and substance,” said OZY co- founder and CEO Carlos Watson. “Now more than ever before people are looking for a news source outside the echo chamber, players in the space that are doing something different. OZY was born different; smarter, more compelling and interesting than anything else out there, and people who are paying attention are placing their bets on OZY.”
OZY will use these funds to continue to invest in top-tier editorial staff that discover and report on important cutting edge stories being told nowhere else. In the last year, the company has expanded its editorial product and email newsletters delivering global coverage of politics, culture, sports, food, technology, to over 2 million people worldwide. The three-year-old company has amassed a loyal following of 25 million addicts; more than the Economist and The New Yorker combined.
“OZY is ahead of the curve not just editorially but in our intention to be revenue diversified since day one,” said Watson. “We want to be everywhere our addicts are; online, on their TV and movie screens, and at live events worldwide.”
OZY took major steps towards this goal in the last year, making their first foray into television with hit political documentary series THE CONTENDERS – 16 for ’16 airing nationally on PBS & worldwide on the BBC in the critical weeks leading up to the 2016 Presidential Election. The company also made their first move into live events, producing a star-studded day-long festival Central Park. The first ever OZY Fusion Fest boasted a guest list ranging from rapper will.i.am to stars of the hit Comedy Central Show Broad City to bestselling author Malcolm Gladwell to politician Cory Booker and everyone in between. This latest round of funding will allow the company to continue to create experiences for OZY addicts to meet and connect, and vastly expand their video team, building towards a media and entertainment empire.
“GSV has built its business on making strategic investments in emerging companies in high growth industries, with a forward leaning perspective that has made us stand out in the industry,” said Michael Moe. “OZY is committed to feeding curiosity and connecting people around the world. We’ve never been more confident in not only their ability to do this, but that more intelligent, compelling, and global stories is what the world needs right now. More OZY is what the world needs right now.”
“GSV’s confidence in OZY as the next great media disruptor and their commitment to partner with us as build our enterprise elevates OZY’s growth potential and degree of success to new heights,” said Watson. “Their insights will be invaluable as we innovate and work to captivate consumers in a cluttered media environment and ever-changing world.”