Federated Media Publishing, an advertising network for independent publishers, has raised between $40 million to $50 million in a new round of funding led by Oak Investment Partners, according to the investor site Private Equity Hub. The company was given a premoney valuation of $200 million, according to the article.
has been the subject of heavy speculation for months. In early March, CNET News.com reported that the company was looking to raise between $20 million and $30 million in a second round of financing, and that Federated Media was in the process of examining term sheets with the help of investment bank GCA Savvian Advisors.
The investment amount is sizable, considering that Federated Media is already profitable after fewer than three years in operation. But companyhas said Federated Media is interested in using the money to fund the growth of some of its publishing partners. Federated Media was in high demand, among investors, as a vertical advertising network for sites such as Boing Boing, GigaOm, and TechCrunch.
The funding adds to earlier investments of an estimated $4.5 million from JPMorgan Partners, The New York Times, and the Omidyar Network. Omidyar has reportedly joined this round of investment.
Battelle didn't immediately respond to a request for comment.