European MCN Mediakraft Raises $23M in New Financing
European MCN Mediakraft Networks has raised $23 million (about 16.5 million Euros) in a second round of financing led by Paris-based investment firm Iris Capital.
The new funding will be used for the development of original online video content, as well as the expansion of the network’s creative team. Mediakraft said it will also look to extend its online video offering “through significant investments in its infrastructure.”
“For our brand customers, our artists and their channels, this is great news,” said Christoph Krachten, president of Mediakraft Networks. “They will benefit from even better production capabilities and marketing power to crank up awareness and maximize reach.”
Launched in 2011 as a German-language MCN, Mediakraft has since expanded to create and distribute online content for viewers in the Netherlands, Poland, and Turkey. Today, the network spans more than 2,000 channels and 36 million subscribers, with a daily reach of 1.5 million uniques and a monthly reach of 350 million views across YouTube, Yahoo, and ClipFish.
Content is geared specifically for millennials, which Mediakraft defines as 14- to 34-year-olds, across categories like entertainment, information, lifestyle, gaming, sports, and urban culture.
Earlier this spring, Mediakraft inked a pact with British Pathe to bring the historical film archive’s entire library to YouTube.
Iris Capital is a new investor in Mediakraft Networks, joined by Cologne-based Capnamic Ventures and Hamburg-based Shortcut Ventures, which is an existing investor. Financial advisory firm Altium Capital acted as the M&A adviser for Mediakraft.Tags: financing, Iris Capital, MCN, Mediakraft, Mediakraft Networks, youtube