Recurrent Announces New Fundraising That Brings Total Capital Raised to $100 Million
The most recent closing of $75 million of additional capital will allow the company to expand and further invest in its digital media portfolio
October 7, 2021 (New York, NY) — Recurrent Ventures announced today that it raised $75 million in a round of financing. This investment round brings the company’s funding to over $100 million in capital to date.
Provided by North Equity, the new funding will be used to acquire other digital media properties and to make additional investments in its current digital media portfolio and employees.
The company dates back to December 2018 when North Equity purchased The Drive from Meredith Corporation. North Equity continued to acquire digital media properties through January 2021, including BobVila.com, Car Bibles, Task & Purpose, Field & Stream, Popular Science, and Domino. In June, North Equity announced that Recurrent would be the new parent company for all of the digital media brands, while the venture equity firm would remain the company’s main investor and continue to focus on digital media-related investments. Since then, Recurrent has continued to expand its portfolio, with the additions of MEL and Futurism in July and JancisRobinson.com in August.
Managing Partner, North Equity
Recurrent is headquartered in Miami, with additional offices in New York and San Francisco, coupled with a virtual-first workforce across the United States. To further its mission of creating a sustainable, equitable, innovative digital media company, Recurrent is rapidly expanding its workforce. Interested candidates can learn more and apply for open roles here.
ABOUT RECURRENT VENTURES
Recurrent is an innovative digital media company that empowers brands to grow, and connect with consumers in a way that is enjoyable, sustainable, inspiring, and profitable—while maintaining editorial integrity. Its best-in-class brands like Popular Science, The Drive, Domino, MEL, Field & Stream, SAVEUR, Futurism, and Task & Purpose engage a combined audience of more than 50 million monthly unique visitors. Initially founded in late 2018 with the acquisition of The Drive, the portfolio rapidly expanded under the ownership and backing of North Equity to include 20 digital media brands across automotive, home, lifestyle, military, outdoors, and science and tech verticals.