ABS Capital Partners has invested $30 million in growing digital media company Alloy Digital.
Alloy has a portfolio of websites and channels aimed at the 12-34 demographic, including popular YouTube channels Smosh, Shut Up Cartoons and ClevverTV. Shingle’s existing investors include Zelnick Media. ABS Capital’s Deric Emry has joined Alloy’s board of directors as part of the deal.
“Alloy Digital made an extremely attractive investment opportunity,” said Deric Emry, general partner at ABS Capital. “It is at the forefront of the shift in content consumption to digital media.”
Said Alloy Digital CEO Matt Diamond: “This funding will allow us to rapidly accelerate future growth by adding complementary, relevant properties and talent appealing to the tastes and shifting consumption behaviors of P12-34 digital consumers.”