The good folks over at Blavity are making major money moves!
The digital lifestyle media company announced a whopping $6.5 million in new funding led by GV (formerly Google Ventures) with participation from new investors Comcast Ventures, Plexo Capital, and Baron Davis Enterprises.
Led by founder and CEO Morgan DeBaun, this funding is now the largest amount of money a Black female founder has secured in 2018.
According to the press release, Blavity will use this latest round of funding “to accelerate its mission to become the global media and tech company for a new generation of Black Americans, powering inspirational stories, smart news, events across lifestyle categories and developing new platforms.”
The company will expand its offices to a second location focusing on data and engineering to develop new tools for consumer connectivity, smarter publishing, and creative advertising solutions.
“Digital media is at turning point,” said Morgan. “Niche communities are becoming the majority and multi-billion dollar media brands built in collaboration with creators will evolve into market leaders seemingly overnight.” She adds “Blavity’s success was accelerated by empowering a young and growing underserved market of consumers often overlooked by Silicon Valley and traditional media outlets.”
Congrats to Blavity Inc!