Tastemade Raises $35 Million in Funding From Investors Including Amazon

By Todd Spangler

LOS ANGELES (Variety.com) – Tastemade, the lifestyle and food digital network and studio, closed $35 million in Series E funding, with ecommerce giant Amazon joining the mix for the latest round.

The new financing — which brings millennial-focused to about $115 million raised since its founding in 2012 — was led by Goldman Sachs Growth Equity along with new investors Amazon and Cool Japan Fund. Existing investors including Redpoint Ventures, Raine Ventures, Comcast Ventures, and John Malone’s Liberty Media also participated in the round.

“This funding will allow us to continue to develop a strong connection with our core audience through their passions for food, home and design, and travel, and bring new consumers into our worldwide community,” Larry Fitzgibbon, co-founder and CEO of Tastemade, said in announcing the funding.

Santa Monica-based Tastemade claims to reach a global audience of over 250 million monthly viewers and has run more than 500 ad campaigns to date. The company also has received investment from Scripps Networks Interactive, which is now part of Discovery.

The company currently operates six studios across the world, in L.A., Sao Paulo, Buenos Aires, London, Paris, and Tokyo. Tastemade has launched local-language channels in each market and expanded sales teams.

The company’s Tastemade TV linear streaming network, which features over 200 hours of original programming, is currently available on YouTube TV, Philo, Roku, Apple TV, Amazon Prime Video, and the Tastemade App. It recently signed a deal to launch with T-Mobile video services later this year.

Mark Midle, who leads tech-sector investments for Goldman Sachs Growth Equity, said in a prepared statement: “Goldman Sachs is thrilled by the momentum Tastemade is seeing in its business, and we are excited to support the company in its journey to building a powerful consumer brand for millennials around the world.”