Mashable Raises $17 Million; Business Insider $25 Million

Money makes the media companies go 'round

gravatar photo.jpgMashable and Business Insider have both raised good chunks of funding. Mashable raised  $17 million in Series B funding, led by Time Warner Investments. BI raised $25 million, led by Axel Springer.

It’s not surprising that both companies have enjoyed large funding rounds. Mashable has increased its revenue by 45 percent over the past year. Meanwhile, a “person familiar with BI” told The Wall Street Journal that the site turned a profit over the second half of last year, and revenue has grown “steadily.”

Traffic to the sites is also on the rise. According to ComScore, Mashable’s traffic increased by 17 percent in 2014, while BI’s jumped 55 percent.

The funding will trickle its way down to new staffers; each company plans to hire 100 new employees each.