Online media companies Mashable Inc. and Business Insider Inc. were both in the money Wednesday with announced new funding rounds of $17 million and $25 million respectively.

Mashable’s Series B round was led by Time Warner Investments and included previous investors Elio Leoni-Sceti, Kass Lazerow, Michael Lazerow, Social Starts, New Markets Venture Partners and Updata Partners.

From its humble beginnings in a lounge room in Dublin, Ireland, Mashable has grown into an online media dynamo, boasting of revenue growth of 45 percent in 2014, 40 percent growth in monthly unique visitors to 42 million globally, and a 60 percent increase of social followers to 21 million across all platforms.

Mashable said in a statement that they would use the new funding to add over 100 employees, while also investing in strategic growth areas such as video production and its proprietary Velocity technology.

Rumored to have rejected a $200 million takeover off from CNN in 2012, Mashable has raised $44.3 million to-date including the new round.

Also headquartered in New York, Business Insider’s round of $25 million was led by Axel Springer and included Jeff Bezos and others.

Like Mashable, Business Insider said it would use the funds to expand their video operations and hire an additional 100 new employees.

Founder and CEO Henry Blodget told the Wall Street Journal that “seven or eight years ago there was so little belief that digital content and media could be viable, that raising $100,000, $200,000 was a lot of money…..we’re just now getting to the point where investors have enough confidence in the future of new media that they are writing much bigger checks.”

Figures quoted by the paper put Business Insider’s traffic up 55 percent year on year to 35.4 million unique views in December “making it the most-visited business news site in the U.S.” Of note though is that these figures come from comScore and don’t cover international traffic; Business Insider, like Mashable has significant readership outside of the United States, as well as a number of foreign sites such as Business Insider UK, and Business Insider Australia.

Business Insider has raised $55.6 million to-date including the new round. Previous investors include Marc Andreessen, Pilot Group, RRE Ventures, Kohlberg Ventures, Allen & Company, Institutional Venture Partners and Gordon Crovitz.

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