The media startup Semafor has raised $30 million in new financing that values the company at $330 million after its first profitable year.
The roughly three-year-old startup, which counts KKR co-founder Henry Kravis, David Rubenstein of Carlyle Group and Penny Pritzker’s PSP Partners among its backers, aims to hire more journalists and expand its live-events business. This is the company’s first priced round and valuation.
Known for the pale-yellow hue of its website and newsletters, Semafor set out to connect with readers in part by breaking its articles into sections such as the news, the reporter’s perspective and alternative points of view. It publishes newsletters, a podcast and produces live events tailored to what Chief Executive Officer Justin Smith describes as “the global leadership class”: C-suite executives, government leaders and public policymakers.
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