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Cheddar raises $22M for new news network, international expansion


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Cheddar raises $22M for new news network, international expansion

Financial news service Cheddar Inc. has raised $22 million in a series D funding round, led by Raine Ventures, to launch a second live-news network and expand globally.

Liberty Global plc, Goldman Sachs Group Inc., Antenna Group, 7 Global Capital, Dentsu Inc.'s Dentsu Ventures, and the family office of Kelly Loeffler and Jeff Sprecher are among the new investors, according to a March 19 press release.

Existing investors, including Lightspeed Venture Partners, Comcast Corp.'s Comcast Ventures, AT&T Inc., Altice NV's Altice USA Inc., The New York Stock Exchange, Ribbit Capital and Inc. also participated in the latest funding round.

The online news network has heightened its distribution in the past year through live linear broadcasts and on-demand programming on platforms such as DISH Network Corp.'s Sling TV, Comcast X1, Amazon, Facebook Inc., Twitter Inc. and Twitch.

Next month, Cheddar plans to launch "Cheddar Big News," a general news network focused on "non-partisan, national news with the style and sentiment of local news."

The company also will launch its Snap Inc.'s Snapchat Publisher Story in April.