Chenal Media Raises $7M in Series B Funding
Chenal Media, the Los Angeles, CA-based transmedia division of Chenal Brands (CBI), has raised $7m in Series B funding.
Backers include iHaniel and private investors.
The company intends to use the funding to grow in three main areas: development, co-production and distribution of genre feature films under $5m.
Spun off from CBI in 2010, Chenal Media develops, acquires and distributes new and traditional media across the globe. In 2011, the company leveraged its infrastructure to focus on filmed entertainment — financing genre features under $5 million through senior, gap, mezzanine and equity financing.
Chenal Media also added financier Hans Reinelt and Chenal Brands CEO Will Bermender, a former NBC and Comcast executive, to the team of CBI’s subsidiary in the roles of CFO and Chairman, respectively.