A new round of funding for Medium has ended

The Medium social media platform , launched in August 2012 by Twitter co-founders Evan Williams and Biz Stone, went through a new round of external funding.

In January 2014, the platform attracted external financing for the first time: two funds acquired the startup stake - the organizer of the round Greylock Partners and Google Ventures - and several private investors, including Ron Conway. The total investment amounted to $ 25 million . The startup did not need new investors, as Evan Williams became a billionaire after a successful Twitter IPO.

However, the attraction of external financing, in his own words, was a signal to the market that the company has a clear business model and a long-term strategy. It was also a way to attract new managers, as by 2014, The Obvious Corporation co-founders Biz Stone and Jason Goldman left Medium for their projects. Greylock Partners Managing Partners David See and Josh Elman are on the board of directors.

According to Andy Doyle, the platform raised $ 57 million. The round led a venture fund founded by Mark Andressen and Ben Horowitz - Andreessen Horowitz with significant contributions from Google Ventures and Greylock Partners, who participated in Series A, as well as with the participation of Obvious Ventures, The Chernin Group and some of the business angels of the previous round. The founder of the platform, Evan Williams, who to this day remains its main shareholder, also did not fail to participate in this round.

More than 20,000 people write on Medium every week, and their words are read and discussed by millions of others. Currently, the monthly audience of Medium is more than 17 million people. According to Biz Stone, Medium is an attempt at an evolutionary leap in publishing. Medium on equal terms publishes entire publications, professional authors and ordinary users. A variety of famous people have been published on Medium at different times, ranging from the US president to Pavel Durov.

In many ways, the platform is a role model for many resources, in terms of typography and identity. In connection with the successful completion of the next round of investments, on October 7, the company intends to announce several new platform features and partnership programs.