Italian startup Freeda Media raised a $10 million Series A round led by Alven Capital with participation from U-Start. The round was also supported by several business angels including Khaled Helioui, Stefano Sala, Paloma Castro Martinez, Sebastian Picardo, and Henri Moissinac.
Freeda Media produces content aimed at millennial women, primarily distributed on social platforms such as Facebook and Instagram. Only a year old, Freeda has 1.3 million followers on Facebook, and its posts reach 24 million unique users every month in Italy.
The new funding will support the opening of a new office in Spain, and Freeda Media will also use the investment to embark on new editorial initiatives.
"With this operation our aim is to increase our capacity to offer premium content to our users and partners," said Andrea Scotti Calderini, co-founder & CEO of Freeda. "We will also differentiate and expand our business model. Today branded content is our primary revenue stream. We want to start cooperating together with other platforms and to offer our partners solutions that respond to the challenges presented by a constantly evolving communication market. Focusing on metrics such as quality and interactions, our ultimate objective is to build a media brand able to inspire millions of women around the globe.”
“We gravitated towards Freeda Media because we felt the company has a unique value proposition in the media landscape and the results they achieved in almost one year of activity are remarkable,” said Jeremy Uzan, Partner at Alven. “Freeda has demonstrated an ability to rapidly integrate original and branded contents, which few international media players have. With this round, we aim at supporting the company's internationalization process in Spain and other strategic countries."