Brit + Co raises $15 million to grow its media and merchandise businesses
Brit + Co, the media startup founded by Brit Morin, is announcing an additional $15 million in funding led by Verizon Ventures (TechCrunch’s parent company). Former Uber President and Target CMO Jeff Jones will also be joining the startup as an advisor.
San Francisco-based Brit + Co will be using the funding to expand its digital content business that targets women. They will also be using it to build more branded merchandise for their partnership with Target.
Brit + Co is “enabling these women to live more creatively across every category of their lives,” Morin told TechCrunch. She likened the brand to “the magazine version of Pinterest.”
She said they plan to add more video tutorials, which cost $20-$50 per online class. “Calligraphy, coding, and how to start a business” are part of the broad section of categories she highlighted.
The revenue from the videos along with the Target merchandise business have brought the startup closer to profitability, claimed Morin. She thinks they are on track to hit this milestone in the next year or two.
She says they have an estimated 125 million monthly unique visitors, including their website and social media platforms. About 70% of the people are based in the U.S.
The company now has over 100 employees, the majority of whom are located in the San Francisco office. They also have a presence in New York.
Brit + Co previously raised over $27 million in funding from Intel Capital, Lerer Hippeau, Marissa Mayer and others.