Asia First Media Raises $14.2 Million to Accelerate Growth and Media
NEW YORK, Aug 23, 2019 /DestinyME/ -- Destiny Media Entertainment (LLC) announced today that it has completed its equity capital round raising $14.2 million for Asia First Media, a Tokyo and Seoul based media company.
New to the company's roster of institutional investors are funds managed by Solstice Ventures, which co-led the round with funds and accounts advised by Fidelity Management & Research, along with other institutional and private investors. Asia First Media post-money enterprise valuation is north of $1.08 billion.
The raise comes on the heels of the Company's recent acquisition of Asia First Media, which closed in August 2019. Destiny was represented by international law firm Jones Day, headquartered in Cleveland, OH.
Asia First Media CEO Kyoko Mori said this latest round of financing will fund a number of business initiatives, including additional potential acquisitions, the acceleration of revenue growth through further investment in sales and marketing, and significant scaling of the company's technology and digital platforms.