This significant sum will go towards expanding Refinery29’s global reach by helping the company open up new markets in other countries, create more video content, and increase its mobile and social media presence.
Along with the funding, Scripps and WPP execs will join Refinery29’s board of directors. Specifically, chief development officer Joseph NeCastro will hop on board from Scripps, where he’s been working on international acquisitions for years. His experience should help Refinery29 as it continues to expand in international markets.
The new round of funding brings investments in the fashion and lifestyle publisher to $80 million. Past funding has come from the Hearst Corporation, Stripes Group, First Round Capital, Lerer Ventures, Lead Edge Capital, and Floodgate.
Refinery29 has offices in New York and Los Angeles. The company reports that it gets around 25 million visitors per month to its site.