San Francisco – Sugar, an online media firm targeting women,
announced on Wednesday that it has raised $15 million in new funding, led by
Institutional Venture Partners.
Previous backer Sequoia Capital also
participated in the investment round, which the company will put towards brand
extensions, acquisitions, and international expansion.
Founded in 2006, San
Francisco-based Sugar maintains a network of websites, including PopSugar.com
and ShopStyle.com, which attract over 20 million monthly unique visitors, and
last year drove over $250 million in commerce to its partners.
which has now raised a total of $46 million to date, said it reached
profitability for its fiscal year 2010.