MiTú raises $10 million in funding
MiTú is a YouTube-like website that focuses on the Latino community. MiTú has announced that it has raised $10 million in a second round of funding to hire additional engineering and sales talent.
Upfront Ventures led this round of funding. MiTú will also expand production facilities in Mexico City and L.A. Founded in 2012, MiTú is one of the largest Latino media brands with a young audience. It covers beauty, food, home, DIY, and health content.
“Having been an early & prolific investor in online video I came to the conclusion that the future will be built around strong vertical content channels. It’s the best way that networks can attract and develop talent and that advertisers can reach large, endemic audiences,” stated Upfront Ventures managing partner Mark Suster. “When I met the team at MiTú I knew they understood the mixture of Latino meets online video better than anybody else I had met and became excited to be a partner with them.”
MiTú currently has 400 million monthly video views and 40 million subscribers. It also has 1,200 video creators.
MiTú was founded by Doug Greiff, Beatriz Acevedo, and Roy Burstin. Previous investors include
The Chernin Group LLC, Advancit Capital, and Machinima chairman and CEO Allen DeBevoise.