The second round of financing — which brings MiTú to about $16 million total raised to date — was led by previous investor Upfront Ventures, with participation from Daher Capital, Northgate Ventures, AMC and other prior backers. That includes the $10 million in funding the company announced last summer.
“As many of the big media companies have swallowed up MCNs, it’s great to see MiTú become one of the largest independent online video producers,” Upfront Ventures partner Mark Suster said in a statement. “MiTú is dominating the fastest-growing, most politically important demographic group in the U.S. — Latinos.”
Also Wednesday, MiTú announced that it has hired two executives from Demand Media: chief editorial officer Martha E. Flores, previously Demand Media’s VP of editorial, and head of development Greg Griffin, formerly VP of product for Demand Media.
MiTú was founded in 2012 by Burstin, Doug Greiff and Beatriz Acevedo, each veterans of the Latino TV biz. The company claims it has nearly 80 million global subscribers and almost 700 million monthly views across more than 1,300 partner channels.
MiTú’s previous investors include the Chernin Group; Allen DeBevoise, chairman and co-founder of Machinima; and Advancit Capital, a VC firm founded by Shari Redstone and Jason Ostheimer.