A Parent Media Co. Closes New Equity Financing Round

A Parent Media Co. (APMC), owner of kids’ Safe Streaming services Kidoodle.TV, Glitch+ and Safe Exchange, has closed an equity financing round with TriWest Capital Partners, raising over C$80 million ($62 million) of investment capital to date and is now worth over C$600 million ($463 million).

In conjunction with the financing, TriWest’s managing director, Jon Spencer, joined A Parent Media Co.’s board of directors.

“We are very pleased to welcome Jon Spencer to the Board and look forward to his insight and contributions to the board’s deliberations,” said Michael Lowe, dad, founder and CEO of A Parent Media Co. “We feel that this alignment validates the achievements we have made to date and our commitment to families globally in a time when protections for children are needed the most.”

Spencer commented, “Management’s vision has allowed APMC to build industry leading ad-technology to provide solutions to open media platform problems, all while prioritizing the protection of children in a rapidly growing and changing industry. TriWest is excited to be part of the company’s next phase of growth and is proud to partner with a team committed to the family values APMC represents.”

APMC’s growth in recent years has been closely followed by Alberta’s Minister of Jobs, Economy and Innovation, Doug Schweitzer, who said, “I’ve previously noted that this Calgary-based entertainment company could be the next ‘unicorn’ in Alberta. I continue to be impressed by the success we have witnessed from this company and its role in diversifying the economy, employing highly trained personnel in tech and creative industries, and expanding economic opportunities. This is exactly what we hoped to achieve as we work to rebuild and diversify the Alberta economy.”

The TriWest financing was initiated by Fred Mannix Jr., who commented: “This is a business for positive impact. As a father, it was important to me to stand behind the strong work ethic and commitment to safety for children that this company represents.”

“As we face a period of time where child safety should be the most important conversation, we are committed to shifting the narrative,” said uncle, founder and APMC president, Neil Gruninger. “We are thrilled to have TriWest join the Kidoodle.TV family and worked hard to align with a finance partner that understands not only the opportunity, but that families should come first. That’s part of our DNA. Our family ‘title’ is deliberate because what we do for the future of our children matters in this world.”