Ozy Media Raises $35 Million in Funding Despite Digital Media ChallengesTheWrap

Ozy Media, which bills itself as “a daily digital magazine custom built for the Change Generation,” announced Friday the completion of a Series C funding round of $35 million, led by Marc Lasry.

Lasry, a businessman and the co-owner of the Milwaukee Bucks, was introduced to Ozy co-founder and CEO Carlos Watson through mutual friends, Watson told TheWrap.

“I think it actually started because his kids are big Ozy readers and went to Ozy Fest and listen to Ozy podcasts,” Watson explained.

Also Read: Ozy Media to Address Race in New Primetime Series

Lasry is backing Ozy at a time when the company has used its festivals, podcasts and digital shows to buck the broader trend in digital media of consolidating or closing down. “I think he feels that we are at the forefront of so many of the most important consumer trends in media,” Watson said of Lasry’s investment.

He’s also backing it at a time when Ozy Fest, one of the company’s signature offerings, came out of a round of bad press out of organizers’ control: This summer, the annual festival was canceled by officials in New York because of excessive heat forecasts. Tickets for would-be attendees, who paid to see musicians like John Legend and speakers including Malcolm Gladwell, were refunded. Asked in a follow-up if that impacted fundraising or Lasry’s involvement, Watson didn’t immediately respond.

Also Read: Ozy Media Launches In-House Production Studio Headed by 'Girls Incarcerated' EP Royd Chung (Exclusive)

In announcing the fundraising, Lasry said, “The opportunity in the media industry right now is huge, from streaming television to events. It’s exciting to be getting in early at a company at the forefront of media, with a proven ability to create and deliver compelling and differentiated content across platforms. The best is yet to come from Ozy.

“The next chapter of Ozy will see us producing even more and different TV shows, bringing Ozy Fest to even more cities, launching more flavorful podcasts to spice up your commute, as well as continuing to help our audience see a broader and bolder world through our award-winning digital news and features,” Watson added.

He also did not immediately respond to questions of the company’s profitability, though Ozy boasts an audience of over 50 million monthly users across its various platforms. In a Thursday call, Watson was quick to note the company doesn’t see itself only as digital media and so, doesn’t measure success only by traffic.

The fundraising round also included participation from Interlock Partners, LionTree, Atinum Investment, iHeart Media, Venture Souq and Clayton, Dubilier & Rice partners Tom Franco, Don Gogel and Roberto Quarta. All key existing major investors, including GSV Capital, Axel Springer and Emerson Collective returned for the round, which brings Ozy to over $70 million raised since its founding in 2013.

Last year, Ozy announced it was forming an in-house production studio, dubbed Ozy Studios, as it looked to capitalize on its early success producing content. As of Friday, it has five television shows and four podcasts.

The Scene at WrapWomen's Power Women Summit 2019: Eva Longoria, Chrissy Metz, Rachel Zoe and More (Photos)

Actress Eva Longoria was the keynote speaker at the second annual Power Women Summit.
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Amazon Studios chief Jennifer Salke and AMC Networks president Sarah Barnett spoke at the second annual Power Women Summit.
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U.S. congressional candidate Cori Bush (D-Missouri) and actress Sophia Bush spoke at the second annual Power Women Summit.
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Actress-activists Rosanna Arquette, Mira Sorvino and Eva Longoria.
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Designer Rachel Zoe spoke at the second annual Power Women Summit.
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Actress Nicole Richie and producer Sophia Rossi spoke at a breakout session at the second annual Power Women Summit.
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"Surviving R. Kelly" subjects Lisa VanAllen, Faith Rodgers, Jerhonda Pace, Lizzette Martinez, Kitti Jones and Asante McGee at the second annual Power Women Summit.
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UCLA School of Theater, Film and Television dean Teri Schwartz with actresses Kelly McCreary, Gina Torres, Diane Guerrero and Stephanie Beatriz.
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Actress Sarah Shahi.
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Actress Chrissy Metz and TheWrap founder and Editor-in-Chief Sharon Waxman.
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"Breakthrough" actress Chrissy Metz performs with songwriter Diane Warren and the Compton Kidz Club.
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Vocalists Angela Birchett, Shelea Frazier and Christina Bell performed a gospel number at the second annual Power Women Summit.
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Singer, songwriter and actress Rita Wilson performed at the second annual Power Women Summit.
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Singer and actress Becky G performed at the second annual Power Women Summit 2019.
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Actress Lolo Spencer poses with her likeness on the coloring wall at the second annual Power Women Summit.
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"See You Next Time" director Crystal Kayiza accepted WrapWomen and Starz's Telling Our Stories short film award at the second annual Power Women Summit.
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U.S. Youth Climate Strike co-founder and co-executive director Isra Hirsi accepted WrapWomen's Voice of the Future award at the second annual Power Women Summit.
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B Capital Group general partner Karen Appleton Page, #SeeHer initiative STEM and entertainment engagement advisor Dr. Knatokie Ford and Xbox/Microsoft head of global gaming partnerships and development Sarah Bond spoke at a breakout session at the second annual Power Women Summit.
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TheWrap founder and Editor-in-Chief Sharon Waxman, actress Chrissy Metz and songwriter Diane Warren.
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Actress-activist Sophia Bush.
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Actress Rosanna Arquette poses with her portrait at the second annual Power Women Summit.
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Actress Natasha Ofili at the Power Women Summit 2019.
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Model and activist Nats Getty and activist and author Gigi Gorgeous.
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Emmy-nominated journalist and entrepreneur Bianca de la Garza, The Pink Ceiling CEO Cindy Eckert, LUS Brands Inc. founder and CEO Sahar Saidi and Caulipower founder and CEO Gail Becker at the second annual Power Women Summit.
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Actresses Lili Bernard and Mira Sorvino at the second annual Power Women Summit.
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Self magazine Editor-in-Chief Carolyn Kylstra and actress Jenna Dewan at the second annual Power Women Summit.
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Actress Morgan Fairchild.
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Actress Nikki Reed at the second annual Power Women Summit.
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Singer and actress Becky G at the second annual Power Women Summit.
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Songwriter Diane Warren and actress-singer Rita Wilson.
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Multi-hyphenate artist Alyson Stoner at the second annual Power Women Summit.
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The opening cocktail reception at the second annual Power Women Summit.
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Guests at the opening cocktail reception at the second annual Power Women Summit.
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Artist Davia King drew guests' faces as part of a live art exhibit at the Power Women Summit 2019.
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Guests posed with art by local artists Colette Miller and WRDSMTH.
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Guests enjoyed hot hors d'oeuvres at the Power Women Summit 2019.
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Actress Chrissy Metz and TheWrap founder and Editor-in-Chief Sharon Waxman.
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Guests at the second annual Power Women Summit.
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"Breakthrough" actress Chrissy Metz performs with Songwriter Diane Warren and the Compton Kidz Club.
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Actress Sophia Bush and U.S. congressional candidate Cori Bush (D-Missouri) spoke at the second annual Power Women Summit.
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U.S. congressional candidate Cori Bush (D-Missouri) and actress Sophia Bush spoke at the second annual Power Women Summit.
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Actress and singer Rita Wilson performed at the second annual Power Women Summit.
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Guests at the second annual Power Women Summit.
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Comedian Scout Durwood performs stand-up comedy at the second annual Power Women Summit.
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"25 Hours" director Ellie Wen and Starz senior vice president of original programming Karen Bailey at the second annual Power Women Summit.
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WrapWomen and Starz's Telling Our Stories female film competition finalists panel at the second annual Power Women Summit.
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"Street Heroines" director Alexandra Henry, "See You Next Time" director Crystal Kayiza and "Let's Talk About Tits" co-director Jana Otte spoke at the second annual Power Women Summit.
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"Let's Talk About Tits" co-director Jana Otte of Somos We Are. spoke at the second annual Power Women Summit.
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"See You Next Time" director Crystal Kayiza spoke at the second annual Power Women Summit.
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Actress Sophia Bush and U.S. congressional candidate Cori Bush (D-Missouri) behind the scenes at the second annual Power Women Summit.
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Actress Chrissy Metz and photographer Corina Marie.
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Local artist WRDSMTH and CreativeFuture CEO Ruth Vitale.
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Artist Davia King drew guests' faces as part of a live art exhibit at the Power Women Summit 2019.
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The Compton Kidz Club with Actress Chrissy Metz.
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Actresses Daphne Zuniga and Sophia Bush.
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Songwriter Diane Warren, "This Is Us" star Chrissy Metz, TheWrap founder and Editor-in-Chief Sharon Waxman and actress-singer Rita Wilson.
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Guests at the opening cocktail reception for the second annual Power Women Summit.
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TheWrap founder and Editor-in-Chief Sharon Waxman hosted a dinner for the speakers of the second annual Power Women Summit.
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Sandy Abrams led a recharge breathing workshop at the second annual Power Women Summit.
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Alfred Hsing and Sky Liam Patterson led a self-defense class at the second annual Power Women Summit.
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Fitness expert and celebrity trainer Nicole Steen led a dance class at the second annual Power Women Summit.
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CreativeFuture CEO Ruth Vitale poses in front of art by local artist Colette Miller.
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Guests at the second annual Power Women Summit.
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Guests enjoyed breakfast on day 2 of the second annual Power Women Summit.
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Guests "sail into the day" with a keynote conversation with yachtswoman Tracy Edwards.
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TheWrap senior film reporter Beatrice Verhoeven moderated a keynote conversation with around-the-world yachtswoman Tracy Edwards.
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Vocalists Angela Birchett, Shelea Frazier and Christina Bell opened day 2 of the second annual Power Women Summit with a gospel performance.
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The audience at the second annual Power Women Summit.
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The audience at the second annual Power Women Summit.
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Vocalists Angela Birchett, Shelea Frazier and Christina Bell opened day 2 of the second annual Power Women Summit with a gospel performance.
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TheWrap founder and Editor-in-Chief Sharon Waxman gives opening remarks on day 2 of the second annual Power Women Summit.
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"Surviving R. Kelly" subjects enter the stage with actress Mira Sorvino.
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"Surviving R. Kelly" subjects Jerhonda Pace, Asante McGee, Lizzette Martinez, Lisa VanAllen, Kitti Jones and Faith Rodgers spoke with actresses Lilli Bernard and Mira Sorvino at the second annual Power Women Summit.
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"Surviving R. Kelly" subjects Kitti Jones and Faith Rodgers spoke with actresses Lili Bernard and Mira Sorvino at the second annual Power Women Summit.
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"Surviving R. Kelly" subject Asante McGee spoke with actresses Lili Bernard and Mira Sorvino at the second annual Power Women Summit.
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"Surviving R. Kelly" subjects Jerhonda Pace, Asante McGee, Lizzette Martinez, Lisa VanAllen, Kitti Jones and Faith Rodgers spoke with actresses Lili Bernard and Mira Sorvino at the second annual Power Women Summit.
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California Film Commission executive director Colleen Bell introduces the keynote speaker, actress Eva Longoria.
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Actress Eva Longoria was the keynote speaker at the second annual Power Women Summit.
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Free the Work founder Alma Har'el spoke at the second annual Power Women Summit.
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The audience at the second annual Power Women Summit.
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Free the Work founder Alma Har'el spoke at the second annual Power Women Summit.
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"The Skinny Confidential" founder and host Lauryn Evarts Bosstick moderated a conversation with activist and author Gigi Gorgeous at the second annual Power Women Summit.
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Warner Bros executive vice president of worldwide public affairs Dee Dee Myers moderated a panel at the second annual Power Women Summit.
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She the People founder and president Aimee Allison spoke at the second annual Power Women Summit.
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She the People founder and president Aimee Allison and actress Alysia Reiner spoke at the second annual Power Women Summit.
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The audience at the second annual Power Women Summit.
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TheWrap founder and Editor-in-Chief Sharon Waxman at the second annual Power Women Summit.
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Broadcast journalist Nastya Stanko spoke with TheWrap founder and Editor-in-Chief Sharon Waxman at the second annual Power Women Summit.
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The Washington Post Beirut bureau chief Liz Sly, investigative journalist Anna Babinets and Juba Monitor Editor-in-Chief Anna Nimiriano spoke at the second annual Power Women Summit.
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100% Noticias news director Lucía Pineda and The Washington Post Beirut bureau chief Liz Sly spoke at the second annual Power Women Summit.
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Guests at the second annual Power Women Summit.
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Actress Lolo Spencer spoke at the second annual Power Women Summit.
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Former CNN chief white house correspondent Jessica Yellin, Twitter global head of partnership solutions Lara Cohen, actress Sophia Bush and author Melissa Magsaysay spoke at a breakout session at the second annual Power Women Summit.
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Actress Sophia Bush spoke at a breakout at the second annual Power Women Summit.
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Former CNN chief White House correspondent Jessica Yellin spoke at a breakout at the second annual Power Women Summit.
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Twitter global head of partnership solutions Lara Cohen and actress Sophia Bush spoke at a breakout at the second annual Power Women Summit.
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Television literary agent Ava Greenfield, Homegrown Pictures founder Stephanie Allain and Columbia Pictures vice president of creative development and production Bryan Smiley spoke at the second annual Power Women Summit.
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Columbia Pictures vice president of creative development and production Bryan Smiley, showrunner, director, producer and actress Gloria Calderón Kellett and actress Lolo Spencer spoke at the second annual Power Women Summit.
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LinkedIn program manager Lauren Jolda led the "Rock Your Profile: Unleash Your Wonder Woman on LinkedIn" breakout session at the second annual Power Women Summit.
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LinkedIn program manager Lauren Jolda led the "Rock Your Profile: Unleash Your Wonder Woman on LinkedIn" breakout session at the second annual Power Women Summit.
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Actress Nicole Richie spoke at a breakout at the second annual Power Women Summit.
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Producer Sophia Rossi moderated a breakout at the second annual Power Women Summit.
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Model and activist Nats Getty and activist and author Gigi Gorgeous spoke with "The Skinny Confidential" founder and host Lauryn Evarts Bosstick at the second annual Power Women Summit.
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Model and activist Nats Getty and activist and author Gigi Gorgeous spoke at the second annual Power Women Summit.
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Twitter head of inclusion and diversity Dalana Brand spoke at a breakout at the second annual Power Women Summit.
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LUS Brands Inc. founder and CEO Sahar Saidi spoke at a breakout session at the second annual Power Women Summit.
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Emmy-nominated journalist and entrepreneur Bianca de la Garza and The Pink Ceiling CEO Cindy Eckert spoke at a breakout session at the second annual Power Women Summit.
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Emmy-nominated journalist and entrepreneur Bianca de la Garza moderated a breakout session at the second annual Power Women Summit.
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Caulipower founder and CEO Gail Becker spoke at the second annual Power Women Summit.
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B Capital Group general partner Karen Appleton Page, #SeeHer initiative STEM and entertainment engagement advisor Dr. Knatokie Ford and Xbox/Microsoft head of global gaming partnerships and development Sarah Bond spoke at a breakout session at the second annual Power Women Summit.
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WME partner Nancy Josephson, AMC Networks chief transformation and people officer Jennifer Caserta, NBCUniversal chief talent officer Cara Stein, Endeavor chief inclusion officer Alicin Reidy Williamson and Twitter head of inclusion and diversity Dalana Brand spoke at a breakout at the second annual Power Women Summit.
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Guests had the opportunity to snap their headshots at a photo booth provided by LinkedIn.
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Local artist Lola del Fresno poses with her paintings which were featured at the second annual Power Women Summit.
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Local artist Rebecca Setareh poses with her sculptures which were featured at the second annual Power Women Summit.
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Paintings by local artist Lila Hawk were featured at the second annual Power Women Summit.
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Fitness expert and celebrity trainer Nicole Steen.
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Neon art by local artist Roxy Rose were featured at the second annual Power Women Summit.
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Queen V was a featured vendor at the second annual Power Women Summit marketplace.
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After Party Candle Co. was a featured vendor at the second annual Power Women Summit marketplace.
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Sari Lennick Fine Art was a featured vendor at the second annual Power Women Summit marketplace.
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Guests leave their marks on the coloring wall illustrated by Jen Wilde at the second annual Power Women Summit marketplace.
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Bibelot Jewelry was a featured vendor at the second annual Power Women Summit marketplace.
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Local artist Raghubir Kintisch poses with her artwork which was featured at the second annual Power Women Summit.
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Artwork by local artist Meghan Quinn was featured at the second annual Power Women Summit.
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Dazey LA was a featured vendor at the second annual Power Women Summit marketplace.
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Former "Suits" star Gina Torres spoke at a breakout session at the second annual Power Women Summit.
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Actress Kelly McCreary spoke at a breakout session at the second annual Power Women Summit.
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Actress Diane Guerrero spoke at a breakout session at the second annual Power Women Summit.
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Actresses Kelly McCreary, Stephanie Beatriz, Diane Guerrero and Gina Torres spoke at a breakout session at the second annual Power Women Summit.
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Actresses Stephanie Beatriz, Kelly McCreary, Gina Torres and Sarah Shahi at the second annual Power Women Summit.
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Guests shop at After Party Candle co. at the second annual Power Women Summit marketplace.
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Producers Erica Huggins, Cindy Chupack, Cathy Schulman, Cassidy Lange and Mattel's Robbie Brenner speak about reframing the entertainment world for gender parity at the Power Women Summit.
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Cassidy Lange and Mattel's Robbie Brenner speak at the Power Women Summit.
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Rachel Zoe clothing was a featured vendor at the second annual Power Women Summit marketplace.
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Fitness expert and celebrity trainer Nicole Steen led a workout in the marketplace at the second annual Power Women Summit.
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My Intent was a featured vendor at the second annual Power Women Summit marketplace.
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Designer Rachel Zoe spoke with Conde Nast Entertainment senior vice president of marketing and new platforms Teal Newland at a breakout at the second annual Power Women Summit.
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Actress Jenna Dewan and Self magazine Editor-in-Chief Carolyn Kylstra spoke at a breakout at the second annual Power Women Summit.
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Actress Jenna Dewan spoke at a breakout at the second annual Power Women Summit.
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Drybar founder Alli Webb and Self magazine Editor-in-Chief Carolyn Kylstra spoke at a breakout at the second annual Power Women Summit.
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Drybar founder Alli Webb spoke at a breakout at the second annual Power Women Summit.
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Producer Cathy Schulman spoke at a breakout session at the second annual Power Women Summit.
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Executive and producer Erica Huggins, TV writer, producer and director Cindy Chupack and producer Cathy Schulman speak at a breakout session at the second annual Power Women Summit.
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The audience at the second annual Power Women Summit.
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Guests at the second annual Power Women Summit.
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HopSkipDrive CEO and co-founder Joanna McFarland and award-winning media executive, entrepreneur and social impact advocate Beatriz Acevedo spoke at a breakout session at the second annual Power Women Summit.
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Guests at the second annual Power Women Summit.
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NBC News correspondent Jo Ling Kents moderated a panel at the second annual Power Women Summit.
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AMC Networks president Sarah Barnett spoke at the second annual Power Women Summit.
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Amazon Studios chief Jennifer Salke spoke at the second annual Power Women Summit.
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The audience at the second annual Power Women Summit.
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Pro football Hall of Famer and sports analyst Tony Gonzalez spoke at a breakout session at the second annual Power Women Summit.
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Fox Sports broadcaster Erin Andrews spoke at a breakout session at the second annual Power Women Summit.
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Fox Sports broadcaster Erin Andrews and pro football Hall of Famer and sports analyst Tony Gonzalez spoke at a breakout session at the second annual Power Women Summit.
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"See You Next Time" director Crystal Kayiza accepted WrapWomen and Starz's Telling Our Stories short film award, introduced by Starz chief marketing officer Alison Hoffman.
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The audience at the second annual Power Women Summit.
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U.S. Youth Climate Strike co-founder and co-executive director Isra Hirsi accepted WrapWomen's Voice of the Future award, introduced by singer and actress Becky G.
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Singer and actress Becky G performed at the second annual Power Women Summit 2019.
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Actress Natasha Ofili leads a mentorship session at the second annual Power Women Summit.
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A mentorship session at the second annual Power Women Summit.
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A mentorship session led by actress Daphne Zuniga.
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Actress Daphne Zuniga led a mentor session at the second annual Power Women Summit.
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Actresses Natasha Ofili and Simone Missick lead a mentorship session at the second annual Power Women Summit.
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Multi-hyphenate artist Alyson Stoner, Show Up For Her co-founders Elisa Parker and Tabby Biddle lead a mentorship session at the second annual Power Women Summit.
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Actress Devika Bhise leads a mentorship session at the second annual Power Women Summit.
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Mentorship sessions at the second annual Power Women Summit.
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Actress Nikki Reed leads a mentorship session at the second annual Power Women Summit.
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Actress Natasha Ofili leads a mentorship session at the second annual Power Women Summit.
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Mentorship sessions at the second annual Power Women Summit.
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Mentorship sessions at the second annual Power Women Summit.
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A mentorship session at the second annual Power Women Summit.
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Mentorship sessions at the second annual Power Women Summit.
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Motion Pictures Editors Guild (MPEG) board of directors Karen Baker Landers, Karol Urban and Mary DeChambres spoke at the second annual Power Women Summit.
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Motion Pictures Editors Guild (MPEG) board of directors Karol Urban and Mary DeChambres spoke at the second annual Power Women Summit.
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Screenwriter, director, poet and stand-up comedian Justice Singleton spoke at a breakout session at the second annual Power Women Summit.
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Freeform vice president of production Yolanda T. Cochran spoke at a breakout session at the second annual Power Women Summit.
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Executive Producer Jeanette Volturno spoke at the second annual Power Women Summit.
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Executive producer Dayna Lynne North spoke at a breakout session at the second annual Power Women Summit.
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Loeb & Loeb partner Ivy Kagan Bierman spoke at the second annual Power Women Summit.
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Guests at the second annual Power Women Summit.
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Twitter global head of partnership solutions Lara Cohen, producer Sophia Rossi and actress Nicole Richie at the second annual Power Women Summit.
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Actress Lolo Spencer colors in her likeness on the coloring wall at the second annual Power Women Summit.
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Actress Daphne Zuniga snaps a photo with guests.
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Guests pose with Mattel's Barbie box in the marketplace at the second annual Power Women Summit.
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Singer/songwriter Maya Batra.
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News associate and former Lubin and Meyer trial attorney Jessica Meyer.
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Former CNN chief white house correspondent Jessica Yellin and actress Sophia Bush at the second annual Power Women Summit.
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Showrunner, director, producer and actress Gloria Calderón Kellett takes a photo with guests at the second annual Power Women Summit.
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Rachel Zoe clothing was a featured vendor at the second annual Power Women Summit marketplace.
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Executive producer Dayna Lynne North and Freeform vice president of production Yolanda T. Cochran pose with neon artwork by local artist Roxy Rose.
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The audience at the second annual Power Women Summit.
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Guests enjoy the hangout space in the marketplace.
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