Tongal announced a $13 million investment round led by previous investor Insight Partners with participation from Endeavor. Over the past few months, Endeavor has already been using Tongal to develop video content, podcasts and series across a number of its businesses. Tongal claims its service hosts more than 160,000 independent creators in 168 countries, who have earned over $61 million using the platform.
Other companies that use Tongal to develop original, branded and advertising content include Disney, NBCUniversal, National Geographic, Warner Bros. and DC Entertainment, LEGO Group, NASA, Macy’s, Sesame Workshop, Lululemon, Pinterest and Heineken. The company recently inked a deal with Simon Cowell and Hachette Children’s Group for a new kids’ book series based on material Cowell and his 6-year-old son created on Tongal.
The funding brings Tongal, which launched in 2009, to about $33 million raised to date. Santa Monica-based Tongal said it will use the new funds to further invest in its technology and infrastructure, including web-based workflow tools for its community of creators. The company currently has under 50 employees.
“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. “It’s the perfect combination of an amazing financial partner and amazing strategic partner,” Tongal co-founder/CEO James DeJulio said in a statement.
Endeavor, which called off its plans for an IPO last year, in January acquired a majority stake in On Location Experiences, a hospitality firm that specializes in luxury experiences and accommodations around big sporting events.