Canela Media Becomes One Of The Largest Funded Latino-Owned Companies After Securing $32 Million In A Series A Funding Round

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Canela Media, a New York-based digital media technology company launched in 2019 in an effort to cater to Latino and Spanish-speaking communities, announced today that it raised $32 million in a Series A funding round

To date, it's estimated that Canela.TV has reached nearly 10 million downloads, with wide distribution through partners including Samsung, XUMO and LG. Canela. TV has also solidified brand clients, including McDonald's, Hyundai, Nissan, among other Fortune 500 companies. Rafferty says some brands have spent from $100,000 to $5 million a quarter on Canela.TV advertisement spots.

"I am incredibly proud of that," says Garcia, who also carries Mexican lineage."I will always be proud if it's a Latino. But it takes special meaning that she is a Latina. I do not know, nor will I ever know, the trials and tribulations that it is to be a minorityWhile Rafferty says she never likes to think about the unique challenges she faces as a woman of color, she's aware of them. She says she tells herself to"just work harder and don't let that stop you.

Understanding the hardships people of color endure is one of the reasons why she wants Canela.TV to always be free. According to the Federal Deposit Insurance Corporation , the majority,which could ostracize these groups from being able to afford paid subscription streaming content.

 

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