Maven Completes $24M Financing Round to Drive Growth

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Maven Completes $24M Financing Round to Drive GrowthInvestors in Maven include TCS Capital Management, Hunt Technology Ventures LP, B. Riley Financial, Invenire Capital Partners and 180 Degree Capital.Author:Joseph WoelfelPublish date:Nov 18, 2020 7:35 AM ESTMaven  (MVEN) , a technology platform company powering media brands, announced it has completed a $24 million round of financing led by new and existing investors. The company, which owns or manages more than 250 media brands including Sports Illustrated media and TheStreet and reaches more than 150 million monthly unique visitors, plans to use the proceeds to expand the breadth and depth of its premium partnerships, reduce debt and for general corporate purposes.The investments will support Maven’s new strategy with Sports Illustrated, TheStreet and all its media publishers.The company entered into securities purchase agreements in a series of private placements of shares of convertible preferred stock. The company’s related 8-K filings can be found here and here.“The investments in Maven are another validation of our business model, strategy and leadership team,” said Ross Levinsohn, who was named chief executive of Maven in late August. “We continue to expand our business, drive efficiencies and margin, and look for new opportunities in the market.”New investors include TCS …

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