Sports media site Bleacher Report raised $22 million in a round led by Oak Investment Partners, bringing Bleacher Report's total funding to $40.5 million. Crosslink Capital and Hillsven Capital also contributed. Bleacher Report plans to use the funding to build new content and expand into areas like video and mobile.
Bleacher Report hired five new, salaried lead writers earlier this week, in an effort to improve the quality of the content available on its website. The company also hired King Kaufman from Salon.com earlier this year. Though Bleacher Report has received criticism for focusing on SEO instead of quality writing, the new team and funding set the company on a path toward a different strategy and innovative content formats.