Time Warner unit Turner led a $15 million investment round in online news site Mashable, the companies said Thursday.
As part of the funding agreement, Turner networks and Mashable will produce video together. Kevin Reilly, chief creative officer for Turner Entertainment and president of TBS and TNT, will also join Mashable’s board.
The new funding will be used to further expand Mashable’s video offerings across all platforms including linear TV, enhance its proprietary technology and data platforms, and bolster its premium advertising offerings, with a focus on growing the company’s branded video division.
Other investors in the round included Time Warner Investments, Updata Partners, David Jones and Mike Lazerow, with participation from R&R Venture Partners, a fund created by Dick Parsons and Ronald Lauder.