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Miami-based VentureKite raises $30M credit facility to buy and scale digital brands

Nancy Dahlberg
Nancy Dahlberg
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 VentureKite, a Miami-based digital media startup that buys and grows profitable websites, recently announced the close of a $30 million credit facility provided by CoVenture, an asset management firm investing in tech-enabled companies, to enable more website purchases.

“With this latest round of financing, we are thrilled to continue providing founders with quick and easy exits that protect their team and their vision, enable them to scale, and bring brand transparency and ease of use to consumers,” said Marcos Cordero, VentureKite’s founder and CEO, in a statement.

Using its analytics, VentureKite seeks out and purchases digital brands that are profitable but don’t have the resources to scale up. Cordero says the selected brands help consumers to make confident buying decisions that can better their lives, such as choosing a college or career or purchasing the right insurance. To date, the startup has acquired 11 brands spanning verticals such as education, finance and sports.  These include SavingForCollege.com, Hackr.io, TheGradCafe.com, ProductivitySpot.com and PowerliftingTechnique.com.  

CoVenture Managing Director Michael Breitstein said VentureKite, founded in 2021, brings a holistic and consumer-focused approach to a traditionally transactional process. “The team continues to guide founders step-by-step through the acquisition process and provide consumers with industry-leading content,” he said.

Cordero, a Puerto Rico native who studied mechanical engineering at MIT and holds a Harvard MBA, is a #MiamiTech OG. He previously founded and led Gradvisor, a company that provided personalized college savings plans,  and served as CEO for Saving For College. Gradvisor, founded in 2015, was acquired by Betterment earlier this year.

Follow Nancy Dahlberg on Twitter @ndahlberg and email her at [email protected]

Nancy Dahlberg
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