Latino digital network Mitu raises $27 million
LOS ANGELES - Mitu, the fast-rising digital network aimed at latino audiences, has raised $27 million in new funding, bringing it's total to $43 million.
The new investors include media giant Verizon, ad agency WPP and AwsomenessTV, which, like Mitu, is a digital network focused on the YouTube audience. Awesomeness is a unit of DreamWorks Animation.
CEO Roy Burstin says the new funding will help the company “ramp up the volume” of content. The new year is now about “scaling the company,” he said.
Mitu has 2 billion global monthly views on YouTube and elsewhere, and says it has the largest global digital reach of companies who court the young latino viewer.
“Latinos represent 24% of millennials in the U.S." says Burstin. "That’s why we think of this demo not as a niche but as a part of the mainstream."
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