Thursday, June 19, 2014
MiTu Gets $10M For Latino Content
Culver City-based MiTu, a developer of digital content for the Latino market, said today that it has raised $10M in a Series B funding round. The new funding was led by Upfront Ventures. The company's other investors included The Chernin Group LLC (TCG), Allen DeBevoise (Machinima) and Advancit Capital. According to the company, the funding will go to build out its production facilities in Los Angeles and Mexico City, and expand its engineering and sales teams. MiTu was founded by Doug Greiff, Beatriz Acevedo, and Roy Burstin. MiTu says it has 400 million monthly video views, 40 million subscribers and 1,200 video creators creating content for its channels.