We got financing! Vertical Media lands €600,000 to boost coverage of European startup scene2012-11-26 9
We have some good news for VentureVillage and all our readers: Vertical Media, the online publishing house behind VentureVillage and Gründerszene, has received a €600,000 funding round from lead investor PDV Inter-Media Venture GmbH and a host of other big-name business angels. This funding round will mean we will be able to go further to fulfil our vision for the company to become the leading digital publisher in Europe.
Here’s all you need to know about our new cash boost:
Where’s the money coming from?
The lead investor in this financing round is PDV Inter-Media Venture GmbH, a media group form South Germany that is most famous for the Augsburger Allgemeine newspaper. Daniel Kempf, from PDV Inter-Media Venture GmbH, said: “Vertical Media has established itself in the startup landscape with a strong brand. We are impressed from the development of the firm to date and look forward to working together with the company.”
Along with PDV Inter-Media Venture GmbH, Vertical Media has attracted a list of business angels on board in this investment:
- Klaus Hommels, who was involved in early stage investments in Skype, Facebook and Spotify and who knows more about the ins and outs of the internet scene in Europe than almost anyone.
- Florian Heinemann, who spent many years on the leadership board of Rocket Internet and has now founded his own VC with Project A Ventures.
- Klaas Kersting, well known for Gameforge and is now working on Flaregames within the mobile games market.
- Heiko Hubertz, who built up Bigpoint, one of the biggest browser game distributers in the world and is now financing startups with Digital Pioneers.
- Kamyar Niroumand, the former German head of Software AG and now the CEO of GFKL Forderungsmanagement.
- Felix Haas, who sold ticketing distributer Amiando to Xing.
- Jens Hilgers, who as the founder of Turtle Entertainment is focusing on multiplayer games and is doing the same with Geewa.
- Mathias Kutzner, who is responsible for running the IT sector of Team Europe.
What will we be using the funding for?
We have some big plans for introducing new products and building up our existing expertise. You may know some of the other services from Vertical Media, including the Spätschicht networking events, the Heureka! Conference and our expert seminars. Now we are focusing on being the leading digital publishing company in Germany and expanding throughout Europe.
Since launching in 2009 with Gründerszene – at that time a simple blog of Lukasz Gadowski, we have built our team up from one to 35 staff members. And when did VentureVillage come into the picture? We were launched just over a year ago to cater for the international, English-speaking audience.
Mark Hoffmann, our CEO, puts it nicely: “Our team has won a loyal readership through their hard work and has built up a solid business model. Now this amazing team will take on new concepts and build up the pace of the company. We will become even better at informing, inspiring and aggregating the digital economy.”
Kolja Hebenstreit, Partner at Team Europe, the Berlin-based incubator that founded Vertical Media in 2008, added: “Mark and his team have built up a publishing company that now has 35 staff members without previous funding rounds. This is an impressive accomplishment. Now their growth will be accelerated.”
The Vertical Media team
What about maintaining our independence?
We are dedicated to maintaining our journalistic neutrality when it comes to reporting about any of our financiers. As was the case with Team Europe, we have made it clear to all our investors that our work together does not include any influence on the journalism side of the business. With this financing round, we made sure we gathered a diverse section of the community.
Our last words? We’re looking forward to celebrating with you all at the Spätschicht Christmas Party!