
That’s on the small side compared to some of the big rounds announced by online media companies last year, particularly BuzzFeed and Vice Media.
However, as CEO John Lerner explained when we met earlier this year, Breaking Media has a different strategy. Instead of trying to attract hundreds of millions of millennial eyeballs, it’s focused on B2B audience — in other words, it writes about industry news for industry professionals with sites like Above the Law, Dealbreaker and Fashionista. (Lerner admitted that Fashionista is a bit of an outlier, since fashion attracts more casual readers.)
The company says it’s profitable and currently reaches 5 million unique visitors each month. It has also grown through acquisitions, buying industry news sites from AOL (which owns TechCrunch) and acquiring MedCity News.
The funding came from undisclosed new and existing investors. The company previously raised a $1.3 million round back in 2010.