Viral Nation, a Toronto, CA-based digital and social innovation group, raised CAD$250M in funding.
The round was led by Eldridge, with participation from Maverix Private Equity. 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. With locations throughout the Americas, Viral Nation 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.
Led by CEO Joe Gagliese, Viral Nation is a global digital media innovation group that powers the social ecosystem through integrated solutions that align strategy, talent, media, and technology. It includes full-service digital and social agency, VN Marketing; creator and athlete-influencer management agencies, VN Talent and VN Sports; and software division, VN Tech. The diverse, multidisciplinary team serves leading brands, including Anheuser-Busch, The Coca Cola Company, Disney, Hasbro, Meta (formerly Facebook), Tencent, Tim Hortons, TJX, Uber, and Vivid Seats.