The Swedish startup gets a series A investment that it will use to recruit new talent, users and bloggers
Swedish blog aggregator Bloglovin has raised $7 million in Series A financing from a new European investor as well as from existing investors.
Investor Northzone led the round, along with participation from previous investors Betaworks, Lerer Ventures, While Star Capital and Bassett Investment Group. The founders of Babble and SoulCycle also personally invested in Bloglovin.
Bloglovin is a platform that aggregates users’ favorite blogs into a single feed. The startup said it will use the investment to recruit new talent, grow its user and blogger base, and introduce new engagement and personalization features.
“Bloglovin is both a source of inspiration and a guilty pleasure for 16 million users and a professional platform for our growing base of more than 500,000 bloggers from around the world,” Joy Marcus, CEO of Bloglovin, said in an April 3 statement. “The company was founded to simplify and enrich people’s lives by helping them find what they love to read about, all in one convenient beautiful place. With the support of our investors, we will continue to listen to our users and provide them with more opportunities for curation, discovery and community on our platform.”
Mattias Swenson and Daniel Swenson along with three of their high school classmates, Patrik Ring, Dan Carlberg and Daniel Gren founded Bloglovin in 2007 in a garage in Sweden. The site expanded into the U.S. in 2013 after it received $1 million in seed funding. Today, the site has about 16 million users that read fashion and lifestyle blogs based on their tastes, interests and social connections. Bloglovin has just 14 employees, but is looking to expand.
New investor Northzone was founded in 1996 and has seven funds investing in about 100 companies including Spotify, Avito.ru, Stepstone, Lastminute, Nimsoft and Pricerunner. Northzone has officers in Stockholm, Oslo, Copenhagen, London and New York.