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Health Site Network Waterfront Media Raises
$25mm
Silicon Alley Insider
By Dan Frommer
September 26, 2007 DUMBO, Brooklyn-based Waterfront Media has closed a $25 million fourth round of funding. Scale Venture Partners led the round and was joined by one new investor, Foundation Capital. Previous investors, including Rho Ventures, Time Warner Ventures (TWX), BEV Capital, and Neocarta Ventures, also participated. Waterfront says it will use the funding to expand its network, increase its ad business, and make more acquisitions. Its network includes Web sites for the South Beach diet, the Sonoma diet, and others like My-Calorie-Counter.com, which Waterfront acquired in April. The company says it gets 9 million monthly unique visitors, citing July Comscore numbers. PaidContent adds that Waterfront raised $6 million last year and $4 million in 2004, and took $8 million in debt financing earlier this year. Release via PaidContent
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