Batanga Raises $30M investment.

Batanga announced it has raised $30 million Series C financing. Tudor Ventures led the round and existing investor H.I.G. Ventures also participated. The funds will be used for the expansion of Batanga’s marketing efforts and the development of social media products and online content catering to the bicultural Latino consumer.

“The Hispanic online marketplace is one of the fastest-growing segments in the US media market and Batanga is one of the fastest-growing companies in it. The Latino demographic trends are so powerful that we foresee strong growth for years to come and hence are very excited to add Tudor to our already strong institutional backing. Tudor shares our vision of the market and their involvement will enable us to invest heavily. This ensures we maintain a leadership position in the space and build the first true Latino online brand,” said Rafael Urbina, Chairman and CEO of Batanga.

In connection with this financing, Carmen Scarpa, a partner at Tudor Ventures, will join Batanga’s board of directors. “I look forward to serving on Batanga’s board. Batanga’s competitive advantage lies in the quality of its content and its keen ability to speak to its growing audience. Batanga’s team of professionals knows the ever-growing Hispanic market like no other online media company,” said Mr. Scarpa.

Since January 2007, Batanga has been aggressively building their marketing department with completion of staffing slated for August 2007. Making preparations for the expected market growth has been the focus that has pushed Batanga to drive quality content on what their audience seeks – music, social networking, and entertainment in a variety of platforms.

“There is no question Batanga has the combination of elements to position it as the leader in the Latino online entertainment sector. Their strong relationship with the music industry and their ability to provide innovative solutions for advertisers will keep them on the cutting-edge and promote accelerated growth,” said John Kim, managing director at H.I.G. Ventures.