BuzzFeed Nabs $15.5 M in Funding

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ADOTAS – Viral-content curatorial website BuzzFeed announced $15.5 million in funding today. New Enterprise Associates (NEA) was the biggest investor in this round, and Lerer Ventures, Hearst Media, Softbank and RRE also participated.

In a release issued announcing the funding, BuzzFeed boasted its traffic had tripled in the past year, and that it now has 25 million unique visitors per month. The company credits Facebook, Twitter and StumbleUpon with boosting those numbers, which makes sense considering the site’s symbiotic relationship with social media. Its technology scours the web for viral content, which its human staff then organizes, comments upon and shares. Buzzfeed views itself at the vanguard of how people consume content online, with founder/CEO Jonah Peretti saying in the release, “The baton has been passed from print to the traditional web and now from the traditional web to social.”

In addition to the funding, BuzzFeed announced it had hired Greg Coleman as an active advisor. Coleman is the president of Criteo and previously had been president of the Huffington Post. Meanwhile, NEA general partner Patrick Kerins was named to BuzzFeed’s board, and Lerer Ventures manager/Huffington Post co-founder Kenneth Lerer, already on the board, was named executive chairman.