Founded in 2017, Maven operates a digital publishing and monetization platform that licenses its technology and audience network to more than 300 brands, including Sports Illustrated, History, Maxim, Yoga Journal and SKI Magazine. The publicly traded company acquired the publishing rights to Sports Illustrated in 2019 and previously bought financial news outlet TheStreet. Maven positions itself as a technology partner that provides distribution, advertising sales and other back-end services so professional media brands can focus on content. Its business has been turbulent, with multiple rounds of layoffs, a pending lawsuit from Meredith Corp., and the recent resignation of founder-CEO James Heckman; Sports Illustrated chief Ross Levinsohn is taking over as CEO while Heckman shifts to strategic initiatives. Despite the upheaval, Maven continues to raise capital, securing $20 million in October, a $5.7 million Paycheck Protection Program loan, and an additional $2.7 million disclosed in a recent SEC filing. The company says the latest funds will help it scale its technology and broaden its media portfolio.

Total raised

$16M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2020