Semafor raises $30 million after first profitable year, defying media industry slowdown

Semafor, a three-year-old global news and intelligence media startup, has raised $30 million in a new funding round, valuing the company at about $330 million. This latest round is the company’s first priced funding and formal valuation.

The move comes at a time when several digital media companies, including BuzzFeed, are struggling with revenue pressures linked to AI chatbots and changing news consumption habits.

More than 60% of the new investment came from existing backers, including KKR co-founder Henry Kravis and Carlyle Group co-founder David Rubenstein. New investors in the round include PSP Partners, Antenna Group, and Belgian entrepreneur Thomas Leysen.

Founded in 2022 by Justin B. Smith, former CEO of Bloomberg Media, and Ben Smith, former BuzzFeed News editor, Semafor initially launched with $25 million in backing and currently employs journalists across regions, including Africa. 

The funding follows Semafor’s first profitable year. In 2025, the company generated roughly $40 million in revenue and recorded about $2 million in EBITDA (earnings before interest, taxes, depreciation, and amortisation). Advertising accounted for a half share of this revenue, alongside sponsorships tied to its live journalism events.

The new capital will be used to expand Semafor’s World Economy annual CEO gathering in Washington, D.C., explore new event markets, and grow its newsroom. The company also plans to scale its Washington, D.C. and business newsletters and launch a CEO-focused China newsletter as part of its next phase of growth.