ABS Capital Partners Invests in TechMediaNetwork, Inc.
Sept. 26, 2011 – TechMediaNetwork, Inc. (“TMN,” or the “Company”), a leading technology media company that produces news and reviews in the technology and science verticals, today announced a $33 million Series B financing led by ABS Capital Partners, a leading growth equity investor. Existing investors Village Ventures and Highway 12 Ventures also participated in the round. TMN will use the funds to increase its acquisition program, further expand its growing news organization, enhance its monetization strategies and increase the distribution of its content. As a result of the financing, ABS Capital General Partner Ralph Terkowitz and Principal Paul Mariani will join TMN’s board of directors.
“Both organically and through complementary acquisitions, we are constantly looking to strengthen and broaden our expansion in the technology news market,” said Jerry Ropelato, CEO and founder of TechMediaNetwork. “The increased reach and influence of our network will continue to deliver more value to our readers, affiliates and advertising partners.”
TechMediaNetwork delivers technology news and product reviews across its 16 different web properties, featuring such flagship sites as LAPTOP, SPACE.com, TopTenREVIEWS and TechNewsDaily. TMN connects consumers, small publishers, advertisers and e-commerce vendors through a network of trusted information, revenue opportunities and audience reach. TMN has built a scalable process for creating highly customizable, trusted editorial content, enabling TMN’s award-winning journalists to rapidly create superior news, reviews and commentary. The company’s content reaches tens of millions of unique readers monthly and ranks third in comScore’s Technology News rankings. The Company has syndication partners, including Yahoo!, MSNBC.com and the websites of Fox News and CBS News, and advertisers such as American Express, AT&T, Canon, General Motors, HP, Kodak, Sony, Symantec, Toyota and Warner Bros.
“We have been searching for a leading technology-oriented internet and mobile publishing business, believing that quality technology content attracts advertisers and ecommerce transactions. TMN is a leader in this space,” said Ralph Terkowitz of ABS Capital. “We really liked their approach of providing ‘news you can use’ technology content which is highly attractive to consumers and small businesses alike. We look forward to working with the team as they continue to build on their lead in this important vertical.”
TMN has made two acquisitions since its founding and has more than 90 publishing partners. Pacific Crest Securities acted as the advisor to TMN.