Canela Media, a NYC-based minority-owned digital media technology company, closed a $32m Series A funding round.
The round was co-led by Acrew Capital and Angeles Investors with participation from Link Ventures, TEGNA Ventures and Samsung NEXT. In addition, existing investors BBG Ventures, Mighty Capital, Reinventure Capital, Portfolia’s Rising America Fund, Alumni Ventures and Powerhouse Capital, continued its participation, bringing total funding to date to $35m. BMO Harris Bank provided an additional $10m of capital.
The company intends to use the funds to accelerate product development, produce new high-quality original programming for its flagship products Canela.TV and Canela Music, and to enable expansion further into Latin America.
Led by Isabel Rafferty, Founder and CEO, Canela Media is a digital media technology company offering brands a complete ecosystem to connect with multicultural audiences starting with its free streaming platform service, Canela.TV, which enriches the new generation of U.S. Latinos with free access to unique, culturally relevant content. In addition to TV content, Canela Music features a unique blend of Latin music programming, featuring various genres from Latin Pop, Regional Mexican, Classics, Romantic, and more.
Canela Media reaches more than 50 million unique Hispanics across its 180+ premium Spanish-language sites.
Later this year, Canela will roll out the Canela Kids app focused on children’s programming. The company will also be adding 95 new positions in various functions, including engineering, operations and programming.
FinSMEs
25/02/2022