Friday, November 19, 2021

Electric Monster Gobbles Up Funding And A Brand

Los Angeles-based Electric Monster, a new startup which focuses on digital entertainment, said on Thursday that it has raised a "major round" of funding, and acquired React Media. Size of the funding was not announced. The company said the funding came in the form of a debt facility from Metropolitan Partners Group and equity capital from Heroic Ventures, Creator Capital, Together Venture Partners, and Vikrant Mathur & Alok Ranjan (the founders of Future Today Inc.). The company said it is focusing on acquiring brand-friendly digital video channels to scale and build their audiences. Matt Gielen is CEO and co-founder of Electric Monster. The company said the acquisition is its fifth acquisition to date.