Tyra Banks, Shonda Rhimes and Other Female Investors Back theSkimm’s Latest Funding

Willow Bay and Jesse Draper are also investors

theSkimm recently completed its $12 million Series C funding. Sources: Getty Images
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Newsletter and media company theSkimm, made popular by its millions of fans, or so-called Skimm’ers, completed its $12 million Series C funding thanks to a group of nearly all female investors.

New investors include Tyra Banks, Willow Bay, Jesse Draper of Halogen Ventures, Shonda Rhimes, Linnea Roberts and Hope Taitz in addition to Goldman Sachs Group, Inc. and Michael Karsch of Juice Press.

“From the onset, theSkimm’s smart, speedy, and most importantly FIERCE approach to current events and world news got my attention,” Banks said in a statement.

TheSkimm, which launched in 2012, started as a daily newsletter that summarized top news stories in an easily digestible and informal way. The company boasts of growing to about 7 million Daily Skimm subscribers and about 30,000 brand ambassadors—or Skimm’bassadors—across the country.

“With a majority of our audience being female, it’s vital to the success of our business to involve women at every single level, and that includes our investors,” Carly Zakin and Danielle Weisberg, co-founders and co-CEOs of theSkimm, said in a joint statement. “With their added perspective and resources, we look forward to this next chapter in our company’s history.”

The company now has an app, a research tool known as Skimm Studies and book recommendations under Skimm Reads. Its production arm, Skimm Studios, develops and creates new video and audio content, including its new podcast, Skimm’d From the Couch.

It also mobilized its fan base to register to vote. It boasts registering more than 110,000 Americans to vote in the 2016 presidential election.

With the latest round of funding, the company will further evolve and grow its offerings, the company said. Series C investments were already made by GV (previously Google Ventures), Spanx founder Sara Blakely and former lead investors 21st Century Fox, RRE Ventures and Homebrew Ventures.

@SaraJerde sara.jerde@adweek.com Sara Jerde is publishing editor at Adweek, where she covers traditional and digital publishers’ business models. She also oversees political coverage ahead of the 2020 election.