Disruptor Capital, a Washington-area angel investment firm, has made its second big move in less than two months by leading a $1.5 million funding round in Media Group of America.
The investment will help fuel growth at the the media company, led by Alexandria-based the Independent Journal Review, a two-year-old Web site run and owned two former Republican operatives.
Privately-held Media Group of America, which is profitable, is on track to earn more than $30 million in revenue this year. The company is profitable, said Disruptor Capital chief executive Pete Snyder, who will joining the MGA board.
The company was founded by Alex Skatell and Phil Musser. Skatell, 28, is a former digital director for the National Republican Senatorial Committee and the Republican Governors Association. Musser, 42, a longtime communications and media consultant, is the former executive director of the governors association and was an advisor to former Republican presidential candidate Mitt Romney.
“The bets we are making today with Pete’s help and expertise will be around video content, and creating platforms for independent contributors and thought leaders,”said Skatell, who started IJReview in his Washington apartment.
Skatell, a 2008 graduate of Clemson University, said past bets in his business were centered around putting data and analytics at the center of the newsroom. In addition to the Independent Journal Review, the company owns the Website Liftbump, a technology incubator called MGA Labs, and a digital media agency, IMGE.
Snyder, a Republican who is considered to be a contender for the GOP Virginia gubernatorial nomination in 2017, called the news site “the hottest company in the hottest sector of media. And they are right in our backyard.”
Snyder, who once worked for then-New York Mayor Rudolph Giuliani, lost the Republican nomination for Virginia’s lieutenant governor. In November, he announced that Alexandria-based Disruptor was leading a $5 million investment in a Richmond clothing company called Ledbury.
Ledbury, headquartered in a tobacco warehouse in a historical section of Richmond, is co-founded by the son of former U.S. Sen. Paul Trible. Ledbury said it would use the investment to help its e-commerce sales and increase its shirt production from about 65,000 in 2014 to a goal of 100,000 this year.
The story has been updated to say the investment was $1.5 million after additional reporting.
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