Tastemade has a new influx of cash to help it reach more people with a culinary bent. The food-based digital video network has closed a $40 million Series D funding round, led by investment firm Goldman Sachs.
Tastemade will use the new round of funding to grow its technical team and improve its systems and multiple digital platforms, like its Apple TV and Android apps. The network, which boasts over 500,000 subscribers on its YouTube channel, will also bring original content to more markets around the world. In addition to Goldman Sachs, existing investors Raine Ventures, Comcast Ventures, Redpoint Ventures, Liberty Media, Scripps Networks Interactive, and Tohokushinsha Film Corporation also contributed to Tastemade’s Series D funding round.
Los Angeles-based Tastemade has made quite the name for itself in both the digital and linear TV worlds over the last few years. The foodie network, founded in 2013 by three former Demand Media executives, launched its own channel on Snapchat’s branded content platform Discover in August 2015. Tastemade occasionally shows up on traditional television screens, as well; the digital network’s Grill Iron series started airing on the Cooking Channel in September.
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Tastemade currently claims to reach more than 100 million monthly viewers across all its social and digital platforms. Including previous investments from Allen DeBevoise and Third Wave Digital, the culinary-centric network has raised over $80 million in funding.
