Mediakraft Networks, the leading online TV broadcaster in Central Europe, has announced today the closure of €16.5 million funding in a second round led by Iris Capital of France. Also participated in the round are new investor Capnamic Ventures and existing backer Shortcut Ventures.
The company claims that the figure is the highest for an online media company in Europe.
The new funding will be used to expand Mediakraft’s web offering in the markets and improve the infrastructure. “Mediakraft Networks is the driving force in the super fast-growing market for online video. We are thrilled and excited to be on board in what is the most promising space in the entertainment sector” said Erkan Kilicaslan, Partner at Iris Capital.
With 2000+ channels, 36 million subscribers and around 350 million views per month on online platforms like YouTube, Yahoo and ClipFish, Mediakraft Networks has established itself as the top online video network for the young population. It focuses on the 14 to 34 year old age group which is difficult for advertisers to reach via traditional television.
The network was launched in 2011 as the first German-language multi-channel network. The media group has now grown to become one of the leading online TV providers in Europe and reaches millions in Germany, the Netherlands, Poland and Turkey. The program range covers many areas of knowledge and entertainment.