Hip news platforms like BuzzFeed and Vice have found immense success through their respective video operations, which have expanded to feature multiple verticals and thousands of videos. A company with a similar philosophy to those two now plans to expand its own video operation with an assist from a new influx of capital. Ozy Media has raised $10 million, and one of its stated goals, according to Variety, is to build up its video production unit.
Ozy’s content, like that of the companies it is often compared to, is meant to be both stylish and informative. The subjects of its articles are often eclectic and off-the-beaten-path, such as the “garbage king of Beirut” it featured in a recent video.
Since its 2013 launch, Ozy has grown considerably, to the point that it now has a well-established presence on platforms like Facebook, where it has close to 900,000 fans. The company also recently came to TV thanks to a deal with PBS. With its latest funding round, it can continue to expand its digital profile. If the success of another eclectic news publisher, Great Big Story, is any indication, Ozy has the right brand of content to gain millions of Facebook followers.
“Media is only average right now; it lacks energy, creativity, and substance,” said Ozy CEO Carlos Watson in a statement. “Now more than ever before people are looking for a news source outside the echo chamber, players in the space that are doing something different.”
The $10 million round was led by GSV Capital. In total, Ozy has raised $35 million.