UPDATED CHANTILLY, VA – The Moteley Fool Holdings Inc. has raised $25 million from BIA Digital Partners II, which invested $15 million, and Patriot Capital II, which invested $10 million in the multimedia financial services company. Silicon Valley Bank also extended a $5 million line of credit to the company.
Lloyd Sams of BIA and Thomas Holland of Patriot have been appointed as director and observer, respectively, on the company’s board of directors.
Jonathan Mudd, senior vice president of media & communications at Motley Fool, tells TechJournal South this is the company’s third round. Maveron and Mayfield invested $26.5 million in the company in 1999 and SoftBank Capital invested $30 million in 2000.
Mudd says the 215 employee firm “hires only as warranted by our business, but we are always on the look-out for smart hard-working people to help us grow the love of investing and advance our Foolish mission.”
“The $25 million invested by BIA and Patriot will be used for general corporate activities, to take advantage of growth opportunities in today’s market, and to provide some liquidity as we pay off our original investors over the course of the next 12-24 months,” he says.
Founded in 1993, the company reaches millions of people each month through its website www.fool.com, subscription newsletter services, podcasts, book publications, syndicated newspaper content, and television appearances.
The Motley Fool recently launched an asset management business offering a retail mutual fund and a private fund for qualified investors. The company says its products and services – whether free or fee-based, online or offline – are designed to help people take control of their financial lives.
“The Motley Fool has a strong, established brand and is deeply embedded in the Web due to its first mover advantage. For over 15 years, the Company has been producing valuable and desirable content to help individual investors navigate and analyze an increasing complex landscape,” said Sams in a statement.
Online: www.fool.com
Southeast Venture Conference, February 29 – March 1, 2012 at the Ritz Carlton in Tysons Corner, VA – Where Smart Money Meets Smart People.
www.seventure.org
© 2009, TechJournal South. All rights reserved.
