Wasserman has backed Cycle Media, a digital hub comprised of a media network called Cycle and a marketing firm called Laundry Service. Wasserman is providing Cycle Media with $150 million in funding for the company’s “initial phase of acquisitions.”

Cycle Media is a New York-based media holding company that houses Cycle, an digital media network targeted towards millennials, and full-service marketing agency Laundry Service. Cycle averages approximately 250 million views each month, according to the company, while Laundry Service was recognized as an A-List company with a “robust client roster” by Ad-Age in 2017.

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