Multiplatform producer Alloy Digital has won a US$30 million investment from private equity house ABS Capital.
It claims that, cumulatively, its sites generate 90 million unique visitors a month, many from YouTube with Smosh and Clevver Media’s ClevverTV garnering over a billion views apiece on YouTube.
Alloy Digital CEO Matt Diamond said the cash will allow the company to continue acquiring and to build its existing production capabilities.
He said: “This funding will allow us to rapidly accelerate future growth by adding complementary, relevant properties and talent appealing to the tastes and shifting consumption behaviors of digital consumers.”
Alloy Digital is part of Alloy Inc., which in turn sold Gossip Girl producer Alloy Entertainment to Warner Bros. last year.
ABS Capital’s general partner, Deric Emry, has joined the Alloy Digital board following his company’s investment.
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20 June 2018 @ 12:15:00 UTC