Klee Irwin Announces First Investment of $390,000 in Upworthy Series A Funding
NEW YORK, Oct. 9, 2013 /PRNewswire/ -- Klee Irwin, the Southern California based entrepreneur, philanthropist, and researcher, today announced his participation in the recent Series A funding round for Upworthy, with an investment of $390,000. Upworthy (www.upworthy.com) is the startup media company whose mission is "to elevate and draw attention to the issues that really matter through irresistible social media."
In total, the Series A round raised approximately $8 million. Upworthy stated it will use the capital to nearly double its staffing with an emphasis on bolstering business development, analytics, and engineering departments. It also plans to also use the funds to help expand into new vertical categories according to Eli Parsiser, one of the site's cofounders. "We're running a bunch of experiments in different areas right now, like parenting and global health," he said.
Upworthy is being called the fastest growing media startup. In the last eight weeks, subscribers to its daily newsletter have increased to 4.5 million while traffic to its website, Upworthy.com, saw 30 million unique visitors in its biggest month. Unlike a number of popular viral media sites, Upworthy stays focus on content that has some social relevance.
The Series A round had an eclectic mix of investors representing new media, mission-driven investors, and nonprofit journalism concerns. It was led by Spark Capital (Tumblr and Twitter) with Catamount (Seventh Generation, Plum Organics), the venture division of the nonprofit Knight Foundation, Uprising, and others. Mr. Irwin's participation was through the Uprising group.
Mr. Irwin commented on his investment in Upworthy: "I direct my resources – creative and financial – towards things that help create a more harmonious future and that help us realize that better future faster. Upworthy is a prime example of a young, innovative company that demonstrates mission in its day-to-day business. I couldn't be more proud of having the opportunity to help them succeed."
About Klee Irwin
Klee Irwin, www.KleeIrwin.com, continues to help fund a variety of companies and organizations including Singularity University (where he is the associate founder), Change.org, Scanadu, Moon Express, and others. He is also the founder and CEO of Irwin Naturals, and the founder and director of Quantum Gravity Research (QGR).
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SOURCE Klee Irwin