Spanfeller Media Group, the company founded by former Forbes.com CEO Jim Spanfeller, closed a $6 million Series B round lead by VantagePoint Capital Partners.
SoftBank Capital NY led the Series A round and contributed to the second round, as did GSA Venture Partners, RRE Ventures, and Lerer Media Ventures.
In a phone call on Tuesday, Spanfeller told us that the money would be used to accelerate growth for The Daily Meal, a site that launched six months ago and currently boats 1.5 million uniques per month.
SMG also plans to launch two other verticals, one that will be in beta by the end of 2011 and another coming online in the middle of 2012. Spanfeller says they have not decided on the specific verticals, nor have they chosen the order of the launch.
Finally, SMG will use the cash infusion to recruit people who can begin selling The Daily Meal.
“We are just getting to revenue right now,” he said. “We are starting to actively pursue revenue this month, basically. Part of the funding will be use to hire a sales team for the first site.”
The CEO thinks there’s a chance this will be the last round of funding his company needs to raise – the money will last at least through 2012 – but he remains realistic.
“I’m hopeful but I think every entrepreneur says ‘I hope we can get through to profitability with Series B.’ And every sage, experienced venture person will look at you, roll their eyes, and say, ‘Uh huh.’ Hopefully, we’re the exception not the rule, but if we’re not, hopefully we’ll have two to three sites up and running so we’ll have an even better story to go out for Series C.”