Seattle angels back DevHub |
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Seattle angels back DevHub
A group of angel investors as well as an undisclosed private equity firm are pumping $1.5 million into EVO Media Group, the operator of the DevHub.com Web site hosting platform. Angel investors in the round include Voyager Capital's Geoff Entress, WhitePages CEO Alex Algard, Intel Capital's Jeff Schrock and former Disney Online president Richard Wolpert.
DevHub has grown extremely quickly since the launch of the free service just nine months ago. It now has more than 30,000 publishers utilizing the online platform, with those sites attracting about two million unique visitors per month. Web sites utilizing the service include niche-oriented online publishers like SinkHardware.com, Seattle Ave. and TowelStore.com. Those sites and others in the DevHub network keep the majority of revenue that they generate.
DevHub.com co-founder Mark Michael said that some content management systems -- such as those from Wordpress and Weebly -- are built for small businesses or those operating personal Web sites. With DevHub.com, Michael said the goal is to attract publishers who want to create Web sites that generate revenue though what he calls "commercial intent-based visitors."
Effective CPMs on the DevHub network are now running in the "high double digits."
DevHub's traffic is doubling month over month
DevHub will use the new cash to grow the company's network of publishers, with CEO Geoffrey Nuval saying that they will start to go after larger content sites that are looking to drive revenue.
The company -- which hit profitability in August -- plans for this round to be the company's last.
Related story: "DevHub skips venture financing and sprints to profitability."
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