SANTA MONICA: Latino media brand mit\u00fa has raised $27 million in a recent round of Series C funding through investors such as AwesomenessTV, WPP Digital and Verizon, bringing its total funding to $43 million.<\/p>\n
Existing investors such as Upfront Ventures, which was the largest Maker Studios backer, also contributed to the round. Following the funding, mit\u00fa announced plans to ramp-up its investment in product and technology to expand its content-publishing platform and audience-data tools, launch its influencer-marketing platform and expand its ecosystem of apps.<\/p>\n
The company counts on 2 billion global monthly views and a community of more than 6,000 Latino creators.<\/p>\n
\u201cLatinos represent 24 percent of Millennials in the U.S.,\u201d said Roy Burstin, mit\u00fa\u2019s CEO. \u201cThat\u2019s why we think of this demo not as a niche but as a part of the mainstream. mit\u00fa\u2019s content brings a distinct point of view that appeals broadly to young, mobile audiences. Brands want to reach these young consumers, but accessing them through traditional channels has proved elusive. mit\u00fa has reach where others have struggled.\u201d<\/p>\n
\u201cThis investment fits perfectly with WPP\u2019s strategy of investing in digital, content and fast-growth markets, such as countries in Latin America, and demographics, such as U.S. Hispanic youth,\u201d said Scott Spirit, WPP\u2019s chief digital officer. \u201cClients are trying to reach audiences where they organically spend their time. With young audiences, you need to reach them online and this investment in mit\u00fa is a great vehicle for clients of WPP companies to accomplish that.\u201d<\/p>\n
\u201cMit\u00fa\u2019s connection into Latino youth culture and creators is impressive,\u201d added Brian Robbins, the founder and CEO of AwesomenessTV. \u201cThey have been very successful creating content and a brand for this rapidly growing audience. Through this investment, we can work with them to accelerate their programming and distribution even further as demand for branded, premium digital first content continues to increase.\u201d<\/p>\n
\u201cWith billions of global monthly views, mit\u00fa has built a compelling media brand that attracts a large Millennial audience,\u201d said Ed Ruth, the director at Verizon Ventures. \u201cWe\u2019re thrilled to support mit\u00fa\u2019s growth in reshaping the Latino media landscape.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
SANTA MONICA: Latino media brand mit\u00fa has raised $27 million in a recent round of Series C funding through investors such as AwesomenessTV, WPP Digital and Verizon, bringing its total funding to $43 million.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[80,81,82],"class_list":["post-2857","post","type-post","status-publish","format-standard","","category-top-stories","tag-awesomenesstv","tag-mitu","tag-verizon"],"yoast_head":"\n