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Polygon owner Vox Media raises $40 million

The owner of Polygon and The Verge raises $40 million in a second round of funding

Vox Media, the digital publisher behind Polygon, The Verge, and SB Nation, has raised $40 million in a second round of funding, according to documents filed with the SEC. This second round was led by Accel Partners, and follows the company's first funding round of $40 million. The previous funding round was led by Accel, Comcast Ventures, and Khosla Ventures.

Vox Media boss Jim Bankoff has told AllThingsD that the company is "on track" to make a profit this year. Bankoff said the company will invest in further video content for The Verge and Polygon. The Verge has a few different video programs, including Vergecast, Small Empires, Top Shelf, and On The Verge. Polygon already has its daily Speed Run series and it recently added the Friends List series, formerly known as Polygon Live.

"You will see a whole lot ... more video product from us, better video product and more widely distributed," Bankoff told Advertising Age. "Part of the model here at Vox is building a media company that's equal parts magazine and news publisher and equal parts video producer and publisher. We are seeking to create an experience that feels as much like TV programming as magazine publishing,"

Bankoff told Ad Age that it was unlikely that the company would go public anytime soon.

"We just closed financing. We're not focused on anything other than executing on our plans," he said.

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Mike Williams: M.H. Williams is new to the journalism game, but he's been a gamer since the NES first graced American shores. Third-person action-adventure games are his personal poison: Uncharted, Infamous, and Assassin's Creed just to name a few. If you see him around a convention, he's not hard to spot: Black guy, glasses, and a tie.
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