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Venture Capital News: Tastemade Grabs $40M

2015-12-17
SANTA MONICA, CA, Tastemade, the leading digital media company focused on food, travel and lifestyle programming for the connected generation, announced today it has closed a $40 million Series D financing.
The round was led by Goldman Sachs' Merchant Banking Division, with participation from existing investors Redpoint Ventures, Raine Ventures, Comcast Ventures, Liberty Media, Scripps Networks Interactive, and Tohokushinsha Film Corporation.

Tastemade brings the world's best Tastemakers together to create high-quality shows in the food, travel and lifestyle categories. Growing at triple-digit rates year-over-year, Tastemade now reaches over 100 million monthly active viewers, and over 1 billion views monthly.

'This new funding enables us to accelerate our goal to be the world's leading video publisher in the food, travel and lifestyle categories,' noted Larry Fitzgibbon, co-founder at Tastemade. 'Millennial audiences are mobile-first consumers, and Tastemade was specifically created to address this shift in global media consumption.'

In the last year, Tastemade has established a leadership position on global platforms like Apple TV, Snapchat, and Facebook, making it an increasingly attractive channel for consumers, advertisers and creative talent.

'As video and mobile take center stage in the media industry, Tastemade is well positioned to take advantage of this global opportunity,' said Mark Midle of Goldman Sachs' Merchant Banking Division, who has joined Tastemade's board of directors. 'We are excited to partner with Larry, Steven, Joe, and the entire team as we work together to build a leading media business for the next generation.'

About Tastemade

Tastemade is a digital media company focused on food, travel and lifestyle programming for the connected generation. We bring this to life on every screen from smartphones to connected TV's for a global community of 100 million monthly active viewers. Tastemade has won several awards for its innovative programming, including a James Beard Award in 2014. The company is funded by Goldman Sachs, Redpoint Ventures, Raine Ventures, Comcast Ventures, Liberty Media, Scripps Networks Interactive, and Tohokushinsha Film Corporation For more information, visit Tastemade at: www.tastemade.com.
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