Thursday, April 10, 2008

Glam Gets $20M In Venture Debt

Glam Media, a publisher of lifestyle blogs and other web sites, has raised $20M in venture debt from Hercules Technology Growth Capital, Hercules reported Wednesday afternoon. Hercules said that Glam Media--which has offices in both New York and Brisbane, California--took the venture debt as part of a $84.6M financing round in March. Samir Arora of Glam Media said in a statement that the debt financing will provide it additional financial flexibility to support its growth. Glam Media is venture backed by Hubert Burda Media, GLG Partners, Accel Partners, DAG Ventures, Draper Fisher Jurvetson, Walden Venture Capital and Information Capital.