VANCOUVER, British Columbia--(BUSINESS WIRE)--Observer Media Group (OMG) announced today a new funding round listed on Social Venture Connexion (SVX) at MaRS Centre for Impact Investing. The announcement comes on the heels of OMG receiving B Corp certification for its commitments to social and environmental sustainability. It is the only news media B Corp in western Canada and one of just two in the country. B Corps are purpose-driven for-profit companies dedicated to using business as a force for good.
OMG owns Canada’s National Observer, the award-winning news site publishing investigative journalism in the public interest. A leading source of news on climate, energy, politics and the environment, the company’s goal is “not to be just the best media company in Canada, but the best media company for Canada,” said founder and CEO Linda Solomon Wood. OMG also owns the hyperlocal Vancouver Observer.
MaRS Centre for Impact Investing is a leading force in growing the impact investment market in Canada. It creates innovative ways for investors to fund social enterprises and charities with investments that create both a financial return for them and a dividend for society. OMG is a leading force in solving systemic problems in Canada's news industry and monetizing the journalism that is foundational to democracy. Driven by an award-winning technology, business and journalism team and powered with a successful subscription-based revenue model, the company is set to scale.
SVX Director Adam Spence said impact investors who want to match their money to impact on climate change, energy and environmental policy, clean energy, and inequality should take notice of OMG. “Observer Media Group is a strong fit for SVX because of its management team, financial performance, impact, and offering,” said Spence. “National Observer is shining a spotlight on our most pressing problems and the solutions to tackle these issues. Their strong business model makes it an attractive offering for investors seeking impact.”
To learn more about Observer Media Group’s CEO and company history, read “‘We stepped in and started doing it’: How one woman built an award-winning news outlet from her dining room table,” by Harvard’s Neiman Lab. To learn more about B Corps, watch this.