REMEZCLA Announces $11 Million Series A Round
The First Independent Latino Youth Culture Media Brand Expands Video Offering
NEW YORK, Aug. 2, 2017 /PRNewswire/ -- Today, REMEZCLA announces its Series A financing round of up to $11 million. This includes a $5 million investment from Hemisphere Media Group, Inc. (NASDAQ: HMTV) ("Hemisphere"), which was announced this past May. Respected as one of the most influential Latino youth media brands, REMEZCLA was started by industry outsiders with zero funding. As the only Minority-Owned Business Enterprise in the Latino millennial media space, REMEZCLA is a true grassroots movement – owned and led by members of the new Latino generation it aims to serve. The investment comes after 10 years of growing the company organically. REMEZCLA will be aggressively expanding its lifestyle platform and content offering as its audience becomes the largest generation of Latino youth in US history.
"This investment will allow REMEZCLA to accelerate its video strategy to create thought-provoking, premium video content for the future of Latino culture," said REMEZCLA's CEO and Founder, Andrew Herrera. He went on to say that, "what started among friends in coffee shops is now a trusted media brand experienced by millions. As we take REMEZCLA into the next chapter, we are honored to have the backing of esteemed investors including, but not limited to: Hemisphere, MACRO Ventures and Patrick Yee (Laird + Partners/Refinery29)."
"With a proven track record of developing compelling original content, REMEZCLA has positioned itself as the most influential Latino youth media brand poised to lead and disrupt the market," said Alan J. Sokol, President and CEO of Hemisphere.
In addition, MACRO Ventures' Charles D. King said, "MACRO Ventures prides itself on making investments that align with our mission to shape culture on a global level with content that more accurately portrays our diverse and dynamic world. REMEZCLA is one of those special brands that we believe will play an integral role in leading Latino media into the future."
The investment will go towards the expansion of REMEZCLA's video production studios in Bushwick, Brooklyn, enabling the company to greatly expand its digital video footprint – producing everything from short-form videos for social media to long-form episodic series across its five verticals (Culture, Music, Film, Food and Sports). REMEZCLA will announce its new original video slate later this summer.
ABOUT REMEZCLA
REMEZCLA is a rapidly growing independent media brand. Founded in 2006, REMEZCLA was the first premium digital destination for young, bicultural Latinos. Today, it reaches an audience of 40 million. The brand has become the go-to, on-the-pulse source to discover fresh Latino culture. REMEZCLA is also the preferred partner for leading brands interested in creating relevant content and experiences for a new generation of Latinos. Remezcla and its best-in-class team have earned awards across several categories, including the Ex Award, ANA Reggie Award and BizBash Awards among others.
Certified Minority-Owned Business Enterprise
In line with its mission to empower new Latino leaders, Remezcla was founded and remains led by Latino entrepreneurs.
Learn more at REMEZCLA.com
SOURCE REMEZCLA
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