CAD$250M funding was raised by Viral Nation, a Toronto, CA-based group that specializes in digital and social innovations.
Eldridge was the lead of the round with Maverix Private Equity joining in. The investment will include the addition of Eldridge Co-founder, Chairman and CEO, Todd Boehly; Eldridge Principal, Jeff Wilbur; and Maverix Founder and Managing Partner, John Ruffolo, to Viral Nation’s board of directors.
The company intends to use the funds to accelerate the public release of SaaS technologies powering internal operations and introduce new, AI-powered solutions to address opportunities driven both by growth in the creator market – valued today at over $100 billion – and wider demand for responsible engagement and conduct across the social space. Viral Nation is present in all 50 states. will also invest in growing the company’s presence in new and existing markets, as well as expanding content services for creators, and doubling the size of its in-house engineering team. $150M of the investment will spearhead the company’s immediate growth plans, with an additional $100M to be allocated over the coming 18 months.
Viral Nation, headed by Joe Gagliese as CEO, is a global media innovation company that powers the social media ecosystem through integrated solutions that combine strategy, talent and technology. VN Marketing, a full-service social and digital agency; VN Talent, VN Sports, and VN Talent, are creator-influencer management agencies; VN Tech is the software division. The multidisciplinary, diverse team supports leading brands like Anheuser-Busch and The Coca Cola Company, Disney (formerly Facebook), Tencents, Tim Hortons TJX, Uber and Vivid Seats.