Refinery29 announced today it raised $20 million in Series C funding (which means basically a third round of major funding) from Stripes Group, which has also invested in Seamless, Elance, and Art.com.
According to a Stripes press release, the money will be used to fund three main areas: content, a mobile web app redesign and growth of mobile sponsored-content ads. The latest influx of cash brings Refinery29’s total funds raised to $30.4 million.
Commenting on the announcement, Pandodaily says the three-pronged approach for the funding is a move away from Refinery20’s goal last year to grow income through commerce. “Like any good startup, Refinery is doubling down on what’s working and moving away from what’s not. The commerce element will no longer be a focus,” says the article.
And indeed, Refinery29 is hiring. At the moment, the career page lists 30 openings!
Refinery draws Refinery29 8.5 million unique visitors per month (again, according to press, and financing will help the site fend off competition from “sites like DailyCandy and Fashionista.”
