Chernin-backed multi-channel network MiTu raises $10m

Jun 26, 2014 • Mark Chatterley

The Latino-focused YouTube network secured $10m in a series B round that followed a reported $3m investment by Chernin in 2012.

MiTu Network, a Chernin Group-backed, US-based multi-channel video network that focuses on a Latino audience, has closed a $10m series B funding round, online video news source VideoInk has reported.

The round was led by US-based venture capital firm Upfront Ventures. Media and entertainment platform Chernin Group invested about $3m in MiTu in December 2012.

The funding will reportedly be used to build production facilities in both Los Angeles and Mexico City.

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