Techstars Ventures, 3311 Ventures, Fontinalis Partners and professional drifting driver Ryan Tuerck provided $800,000 seed funding in Donut Media, a digital media business for car enthusiasts. Donut Media will use the funding to scale content production and create Donut Originals, a platform for millennial-focused automotive content for television and premium streaming services.
Donut Media, the leading digital media company for car enthusiasts, today announced an $800,000 seed investment from venture capital firms Techstars Ventures, 3311 Ventures, Fontinalis Partners and professional driver Ryan Tuerck.
Founded in 2015, Donut Media has built an innovative, data-backed process for creating highly shareable automotive video content. This funding will allow it to dramatically scale its content production, and will support the creation of Donut Originals, a new initiative that will apply this approach to creating millennial-focused automotive content for TV and premium streaming services.
“Our mission at Donut Media is twofold: create the best possible content for car fans, and help advertisers reach and engage that audience,” said Matthew Levin, Co-Founder & CEO of Donut Media. “By merging data analytics with our team’s collective media experience, we’ve figured out how to create compelling content that instantly captivates car fans. This funding not only allows us to create exponentially more content, but also to greatly expand the services we offer brands and agencies.”
Since launch, Donut Media has become one of the fastest-growing automotive media companies in the world, creating branded content for clients including Nissan, Ford, Fiat and Microsoft. In 2016, Donut Media was one of twelve companies selected to participate in the Ford-sponsored Techstars Mobility accelerator program. With more than 425,000 likes on Facebook, 80,000 subscribers on YouTube, and 40,000 followers on Instagram, Donut Media’s videos outpace even popular social video producers, like Buzzfeed, in terms of shareability.
“At Techstars, we are always looking for fast moving companies that have the potential to disrupt their markets,” said Ari Newman, Partner at Techstars Ventures. “Donut has moved fast and made a name for themselves in an industry filled with legacy media concepts without raising significant outside capital or taking a decade to build a brand. We’ve been impressed with their 0-60 time!”
Few companies are specializing in creating entertaining, digital content for car fans, and even fewer are developing millennial-focused content around motorsports. Donut Media has partnered with several of the sport’s biggest stars, like Formula DRIFT driver Ryan Tuerck, to create and distribute video content to help promote these athletes’ brands.
“As an athlete, it is essential to create content for your fans, especially in motorsports, where we’re so often hidden behind a helmet,” Tuerck said. “The team at Donut gets that. They are the best in the business at figuring out what motorsports fans want, how to make it relevant to the younger fans, and how to reach that audience in an effective way.”
For more information about Donut Media, please visit: www.donut.media
About Donut Media
Founded in 2015, Donut Media is the digital media company for the next generation of automotive enthusiasts. Using proprietary tech and a curated network of influencers, Donut Media creates and distributes native car content across social channels. For more information, please visit http://www.donut.media/.