*All Def Digital, the company co-founded by Russell Simmons, has raised $10 million in a Series B financing led by Third Wave Digital Partners, new media investor Allen DeBevoise’ venture capital firm which focuses on new digital media companies.
Other investors in the round include WPP through WPP Ventures, and Andreessen Horowitz, as well as all of ADD’s existing investors: Nu Horizons, Greycroft Partners, eVentures and Advancit Capital.
As previously reported, ADD, is “a leading media brand in urban youth programming, produces and distributes original content through its own media properties, social channels, premium television, theatrical motion pictures, live events, and multi-faceted brand partnerships through its newly established in-house creative agency, ADHD.”
“For the next phase of growth, we chose investors who understand what we are building at All Def across all media – from digital series to live events, from Facebook to premium series and feature films,” said Simmons. “We chose partners who understand the value of our consumer brand, our talent relationships and fans, and the white space we’re filling”
A statement from the company says the new financing will accelerate ADD’s “rapidly scaling cross-platform audience growth and distribution efforts, its original programming in comedy, music, sports, news and poetry, as well as branded entertainment and multi-dimensional sponsorships.”
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