Canela Media, a NYC-based, Latina-owned digital media company, closed a $3m seed funding round.
The majority-female and BIPOC syndicate was co-led by BBG Ventures and Reinventure Capital and joined by Mighty Capital, Angeles Investors, Portfolia’s Rising America Fund, and Alumni Ventures Group.
The new capital will be used to drive the continued growth of the recently launched free streaming service Canela.TV, that provides culturally relevant content to U.S. Latinos.
Led by Isabel Rafferty, Founder and CEO, Canela Media is a digital media tech company offering brands a complete ecosystem to connect with multicultural audiences leading with its free streaming service, Canela.TV, offering on-demand Latino-focused movies and TV entertainment through multiple platforms. Additionally, the company reaches more than 20 million unique Hispanics across its 180+ premium Spanish-language sites and influencer database. Combined with proprietary data, Canela Media possesses in-depth knowledge and understanding of how to establish meaningful and culturally relevant connections with the new mainstream – U.S. Hispanics.