Tastemade raises $25m in funding led by Scripps

Digital network Tastemade has raised US$25 million in an investment round, led by Food Network owner Scripps Networks Interactive.
June 27, 2014

Digital food network Tastemade has raised US$25 million in an investment round, led by Scripps Networks Interactive.

The Series C funding round also includes existing investors Redpoint Ventures, Raine Ventures and Comcast Ventures, and brings the MCN’s total funding to about $40 million.

Scripps has a vested interest in “staying abreast” of the changing media environment, and is staking a claim in the food category,┬ásaid Joseph G. NeCastro, chief financial and administrative officer, Scripps Networks Interactive, in a statement about the investment.

“Tastemade is bringing real innovation to the digital food space,” he said. “Today’s food lover is both creating and sharing content, and Tastemade has developed technology to harness this creativity through the power of video.”

Scripps owns Food Network and Ulive, both of which make original programming around food and lifestyle.

Along with the funding announcement, Tastemade said it plans to release its app for Android later this month, which will be available first on Samsung devices via Google Play.

The app will allows consumers to create their own bite-sized, HD-quality episodes of the places and dishes they love and share them across mobile and social platforms.

Growing at triple-digit rates year-over-year, the Tastemade Network now reaches over 18 million monthly unique visitors (YouTube Analytics) across more than 200 territories and in over a dozen languages.

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Daniele Alcinii is a news editor at realscreen, the leading international publisher of non-fiction film and television industry news and content. He joined the RS team in 2015 with experience in journalism following a stint out west with Sun Media in Edmonton's Capital Region, and with communications work in Melbourne, Australia and Toronto. You can follow him on Twitter at @danielealcinii.