Santa Monica, Calif.-based digital media startup Tastemade said Thursday that it has raised $25 million in Series C funding. Scripps Networks Interactive led the round with participation from Liberty Media, Redpoint Ventures, Raine Ventures and Comcast Ventures.
SANTA MONICA, Calif., June 26, 2014—Tastemade Inc., a global, digital media company, connecting the world through food, today closed a $25 million Series C round of funding, led by Scripps Networks Interactive (NYSE: SNI) with participation by Liberty Media (NASDAQ: LMCA). The round also includes existing investors Redpoint Ventures, Raine Ventures and Comcast Ventures.
Tastemade also announced plans to release its popular Tastemade app for Android later this month—available first on Samsung devices. Tastemade will continue to develop its platform and community as well as expand content partnerships with leading brands to reach millennial consumers interested in exploring new ways to share and celebrate food.
“The new funding will enable us to accelerate our vision to create a global community of food lovers who share their passion for food through video,” noted Larry Fitzgibbon, co-founder at Tastemade. “Video is how our ‘Tastemakers’ connect with their rapidly growing audiences. By launching the Tastemade App for Android, we reach a new group of consumers and empower them to create amazing videos, discover the best places and connect with a like-minded community of food lovers.”
The Tastemade app allows consumers to create their own bite-sized, HD-quality episodes of the places and dishes they love—right from their smart device in just minutes. Shot, produced and uploaded directly from the app, these fun and informative, easy-to-create, one-minute video “raves” can be shared with a global community of food lovers across mobile and social platforms.
“Scripps Networks Interactive has a vested interest in staying abreast of the changing media environment. We’ve staked a strong claim in the food category, and Tastemade is bringing real innovation to the digital food space,” said Joseph G. NeCastro, chief financial and administrative officer, Scripps Networks Interactive. “Today’s food lover is both creating and sharing content, and Tastemade has developed technology to harness this creativity through the power of video.”
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. Growing at triple-digit rates year-over-year, the Tastemade Network now reaches over 18 million monthly unique visitors (YouTube Analytics) across 200+ countries/territories. Tastemade content appears in over a dozen languages across multiple networks and devices, including Hulu, YouTube, AOL, Yahoo!, as well as the Tastemade App.
Based in Santa Monica, CA, Tastemade is a global, digital media company connecting 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. Tastemade is a recent recipient of a famed James Beard award for Best Web Content. The company is funded by Scripps Networks Interactive, Liberty Media, Comcast Ventures, 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.
About Scripps Networks Interactive
Scripps Networks Interactive is one of the leading developers of engaging lifestyle content in the home, food and travel categories for television, the Internet and emerging platforms. The company’s lifestyle media portfolio comprises popular television and Internet brands HGTV, DIY Network, Food Network, Cooking Channel, Travel Channel and Great American Country, which collectively reach more than 170 million consumers each month. Companion websites complement on-air programming with video and social media that inform and inspire. The company’s global networks reach millions of consumers across North and South America, Asia, Europe, the Middle East and Africa. Scripps Networks Interactive is headquartered in Knoxville, Tenn. For more information, please visit http://www.scrippsnetworksinteractive.com