Financial news video network Cheddar has raised $19 million in private equity funding, reports Todd Spangler of Variety.
Spangler reports that the funding was “led by Raine Ventures, along with strategic investors including AT&T, Amazon, Altice USA, the New York Stock Exchange, and Lorne Michaels’ Broadway Video.
“With this round, the New York-based company has raised $32.1 million to date, with a valuation of $85 million. Cheddar’s existing investors — Comcast Ventures, Lightspeed Venture Partners and Ribbit Capital — also participated in the Series C round. Gordon Rubenstein, managing partner of Raine Ventures, has joined Cheddar’s board.
“‘Cheddar has quickly established itself as a transformational, next generation multimedia company and we are excited to partner with Jon Steinberg and this talented team to catalyze their next stage of global growth,’ said Raine Ventures’ Rubenstein. Added NYSE president Tom Farley, ‘We are pleased to bring together leading influencers in business with innovators like Cheddar on the floor of the New York Stock Exchange.'”
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