The Athletic Status
The company raised $40 million of Series C venture funding in a deal led by Founders Fund and Bedrock on October 30, 2018, putting the company's pre-money valuation at $160 million. Bertelsmann Digital Media Investments, Comcast Ventures, Evolution Media, The Chernin Group, Luminari Capital, Amasia, CourtsideVC, Advancit Capital and Y Combinator also participated in the round. The funding will be used to invest in audience, data and editorial teams that drive subscriptions, as well as podcasts and video teams. Earlier, the company raised $20 million of Series B venture funding in a deal led by Evolution Media on March 5, 2018, putting the company's pre-money valuation at $60 million. Y Combinator, Precursor Ventures, Amasia, Rabil Ventures, Comcast Ventures, Courtside Venture, Advancit Capital, Bertelsmann Digital Media Investments, Luminai Capital, The Chernin Group, LionTree Partners, Chris Silbermann and Ali Rowghani also participated in the round.