Playbuzz, the company behind the world’s leading platform for online content engagement and social distribution, announced today that it has raised $16 million (£10.9 million) in Series B financing.
The round was led by venture capital fund 83North, with additional investment from Saban Capital and participation of existing investors Carmel Ventures and FirstTime Ventures.
The new investment will be used to expand the company’s global operations, enrich the variety of formats available on the platform and empower online publishers with extended authoring, distribution and monetisation capabilities, it says in the official press release.
In addition to its New York Headquarters, PlayBuzz is opening offices in Asia and Europe.
Playbuzz, founded in 2012 by Shaul Olmert and Tom Pachys, enables publishers, bloggers, marketers and brands to connect with audiences in a meaningful and share-worthy way, through interactive storytelling in formats such as quizzes, lists, surveys, ranking and more.
Within one year of its launch, the Playbuzz platform has attracted a rapidly growing community of thousands of publishers and content creators, who author, embed and distribute compelling, fun content optimised for user engagement and social sharing.
The platform is seeing over 80 million monthly unique visitors and has been ranked the number one most shared publisher on Facebook for four consecutive months according to NewsWhip.
“The immense popularity of social media has disrupted the digital publishing industry," said Shaul Olmert, Playbuzz Founder & CEO. “Playbuzz’s free platform enables content owners to rely on its proven, ready-made content formats, and deliver content items that are ideal for their target audience, for cross platform adaptability and for social sharing."