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Online Health Firm Waterfront Media Raises $25 Million In Fourth Round
paidcontent.org
By Joseph Weisenthal
September 26, 2007 NY-based online health company Waterfront Media has raised $25 million in a fourth round of funding led by Scale Venture Partners. Other participants were Foundation Capital and existing investors Rho Ventures, Time Warner (NYSE: TWX) Ventures, BEV Capital, and Neocarta Ventures. The company plans to use the funding to bolster its flagship Everyday Health Network, which it claims comes second only to WebMD (NSDQ: WBMD) in the very crowded online health space. In particular, the company wants to expand advertising opportunities and pursue acquisitions. Waterfront Media, which began with subscription-based health and wellness newsletters, has been raising money for some time, including a $6 million round in 2006 and $4 million in 2004. It also took $8 million in debt financing earlier this year.
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