Online Food Network Tastemade Cooks Up $10 Mln in Series B Funds

Tastemade said Thursday that it has closed $10 million in Series B funding. The lead investor was Raine Ventures. Previous investor Redpoint Ventures also participated in the round. Based in Santa Monica, Calif., Tastemade is an online food network.

PRESS RELEASE

SANTA MONICA, Calif., Aug 15, 2013 (BUSINESS WIRE) — Tastemade Inc., a global, digital media creation and discovery company with a mission to connect the world through food, today announced it has raised $10 million in Series B funding lead by Raine Ventures, the first investment from the new venture arm of The Raine Group, a leading global firm with a deep focus and experience in the convergence of technology and media. The round also includes previous investor Redpoint Ventures.
“Digital media companies that are able to fully harness instantaneous, global reach via mobile and social platforms are well positioned to disrupt the old guard,” said Gordon Rubenstein, managing partner of Raine Ventures. “Tastemade is defining what it means to be a modern media company by leveraging its three core components, a proprietary technology platform, original programming and a diverse network of creators, to provide compelling video content with dramatic efficiencies.”
“Our network of tastemakers are consistently creating fresh and highly engaging content,” noted Larry Fitzgibbon, co-founder at Tastemade. “This has allowed us to grow our audience rapidly over the last year. We’re excited about bringing tastemakers and food lovers together to create a global media company built for the mobile-social age.”
Tastemade continues to bring the world’s best Tastemakers in food together to create high-quality shows in the food and lifestyle category for digital platforms. In less than a year, the Tastemade audience has grown to over 12 million unique visitors across 200+ countries. Tastemade content comes in over a dozen languages across multiple networks and devices including, YouTube, AOL, Yahoo!, Roku, and the newly-launched Tastemade App.
The Tastemade App for iPhone and iPod touch allows consumers to create their own HD quality bite-sized episodes of the places and dishes they love–right from their iPhone or iPod touch in just a matter of minutes. Shot, edited and uploaded directly from the app, these fun and informative, easy-to-create, one minute “raves” can be shared with a global community of food lovers across mobile and social platforms, and signal Tastemade’s ability to quickly scale to a mass worldwide audience, powered by its proprietary technology platform.
In less than a month since launching the Tastemade mobile app, episodes have been created in 20 countries in over 130 cities covering 7 different languages. This traction demonstrates Tastemade’s use of “creative leverage,” using its platform to empower a new class of creative people to produce content with greater ease and quality than previously possible to instantly reach a global audience.
The Tastemade App is available for free from the App Store on iPhone and iPod touch or at: www.AppStore.com/Tastemade.
About Tastemade
Based in Santa Monica, CA, Tastemade is a global, digital media creation and discovery company with a mission to connect the world through food. The Tastemade technology platform and community enable a new creative class of ‘Tastemakers’ to come together to connect, collaborate and create engaging, high quality video content with disruptive efficiencies. The company is funded by Redpoint Ventures and Raine Ventures. For more information, visit Tastemade at: www.tastemade.com, and on YouTube at: www.youtube.com/tastemade, or download the Tastemade App on iTunes.

 

 

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