Read the full article on Forbes, here.
Canela Media has become one of the largest funded Latino-owned companies after securing $32 million in a Series A funding round.
Canela Media, a New York-based digital media technology company launched in 2019 in an effort to cater to Latino and Spanish-speaking communities, announced today that it raised $32 million in a Series A funding round.
The company says it currently reaches more than 50 million unique Hispanic viewers across its over 180 premium Spanish-language websites.
After a Series A funding round that gained Canela Media $32 million, the company says its total funding to date is $35 million. The investment was co-led by Angeles Investors and Acrew Capital. Other investments came from Link Ventures, TEGNA Ventures, Samsung NEXT, BBG Ventures, Mighty Capital, Reinveture Capital, Portfolia's Rising America Fund, Alumni Ventures, Powerhouse Capital and BMO.
Canela Media founder and CEO Isabel Rafferty refers to herself as a serial entrepreneur in the multicultural media space. Before launching Canela Media, Rafferty already had an extensive career in marketing, advertising and business development. In 2016, she founded mobile advertising company Mobvious Media, which became the second-largest Hispanic-centered ad network according to Comscore and was acquired by PRISA Group in 2017. From 2012 to 2016, she stood as the vice president for Adsmovil, leading the company's expansion to Los Angeles, Chicago and New York and driving Adsmovil's annual sales from zero to $10 million, Canela Media says.