Mondo Media has announced that it has obtained over US$17 million in its third round of equity financing. The round was led by SBVC with supporting investment for global expansion from Venturepark and others. Returning investors included Foundation Capital, Sofinnova Ventures and Red Rock Ventures. As part of the round, Carl Rosendahl, principal managing director for SBVC, has joined Mondo Media's board of directors. The money will be used to continue Mondo Media's current productions, develop new ones and expand the company's presence in Europe. "This Series C round is further endorsement of Mondo Media's progress in building and optimizing a business model for the distribution of entertainment-oriented interactive digital content," said Douglas Kay, president of Mondo Media. "And we are very optimistic about the fact that SBVC, which is a clear leader in identifying quality new media brands, along with returning investors and international investment company, Venturepark, has recognized the huge revenue potential that comes from owning one of the most extensive digital distribution networks in the market today." SBVC's Rosendahl said, "Mondo Media's unrivaled ability to not only create great content but also syndicate it along with third party properties, makes the company an ideal partner for our fund's initiatives in digital media." Ulrik Smith, venture director at Venturepark, said, "Mondo Media will bring its expertise in creation and distribution of entertainment content for the interactive world to an expanding audience in Europe. And Venturepark will support Mondo Media's efforts to source European content while at the same time enhancing Mondo Media's ability to set up local sponsors and presence. Venturepark will provide strategic consulting and active business building support during Mondo Media's upcoming European market entry." SBVC is an investment firm that has backed other Internet firms like Art Technology Group, BUY.COM, E*TRADE, Interliant, iPrint.com, Net2Phone, PeoplePC, Preview Systems, Support.com and TeraBeam Networks. Venturepark is a pan-European entrepreneurial investor that will provide Mondo Media with business development advice.
Want to learn how Mondo Media has become a leader in the online content community? Then read Animation World Magazine's profile.