Endeavor, a holding company that owns talent agency WME, has invested in the latest $13 million round for 11-year-old content creator marketplace Tongal.
The round for Tongal — which links up businesses in need of creative work with an online community of creators of various stripes, including writers, directors, and production companies — was led by VC firm Insight Partners. The Hollywood Reporter notes that Endeavor has been using Tongal for several months to develop video content, podcasts, and series. Tongal has also been harnessed by the likes of NBCUniversal, National Geographic, The LEGO Group, and NASA, and recently partnered with Simon Cowell and his six-year-old son, Eric, to create a children’s book series called Wishfits.
Tongal will use the funds to build up its technology infrastructure and invest in new workflow tools, the Reporter reports.
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“I’m proud to have Endeavor join our investors at Insight Partners to accelerate the growth of our platform business and further advance our community and the content they are creating,” Tongal co-founder and CEO James DeJulio said in a statement. “It’s the perfect combination of an amazing financial partner and amazing strategic partner.”
Prior to this round, Tongal had raised $23.3 million, according to Crunchbase.
