Mitú, the digital media network that caters specifically to Hispanic youth audiences worldwide, announced a $27 million Series C funding round that includes strategic investors AwesomenessTV (owned by DreamWorks Animation), Verizon and WPP Digital.
The mitú digital network launched on YouTube in May of 2012. In less than one year, the video startup had surpassed their one billionth view. It connects thousands of Latino content creators with viewers around the world who are starving for culturally relevant content that is reflective of their lives.
Mitú successfully hits around 2 billion video views per month across platforms including Facebook and YouTube and their community consists of over 6,000 Hispanic content creators. Together these number currently give them the largest global digital reach that specifically targets Hispanic millennials.
With Hispanics representing 24% of millennials in the U.S. in 2016, investors are wide-eyed and anxious to invest in the right companies that successfully connect with this audience. Mitú is full of content which speaks loud and clear to Hispanic Millennials. Most of the comedic material has deep cultural roots and connects deeply with the bicultural, bilingual millennials. They describe themselves as being “unapologetically Latino with universal appeal.”
After this recent round of funding, mitú CEO Roy Burstin said the company plans to ramp up its investment in sales, content production, and product and technology. The plan also involves expanding its own influencer marketing platform, Mituberos, which matches brands with its creators to co-produce campaigns. They will also use the money to continue improving the technology that monitors how its creators’ videos perform and gauges audience behavior.
For now, you can expect to see the U.S.’s first Latino-made and Latino-focused video content network trailblazing its way through all social media platforms, grasping the attention of Hispanic Millennials all over the country. Check out more about Hispanic Millennials here.