Batanga completes Series D round

Batanga raises an undisclosed amount from Tudor Ventures and H.I.G. Ventures for its ad network

Hispanic-focused online media company, Batanga announced its completed a Series D financing round.  The amount is undisclosed, although peHUB reports a $7.5 million funding round with $2.5 million secured, these numbers based on a regulatory filing.  The company has already raised a $30 million Series C round in August of 2007.

The funding will be focused on Batanga’s recent acquisition of HispanoClick, an online advertising network. This is the largest Hispanic-focused ad network according to comScore MediaMetrix.  Batanga says it will be using the funding to invest in and implement advanced targeting technologies for is ad network.

Batanga was founded in August of 1999 and streamed its first song and video in November of the same year.  Since then, the company has reached 15 million unique visitors, according to comScore.  Its online radio stations can be found easily preset in iTunes Radio, under the Latino section.  

Rafael Urbina, CEO of Batanga, said in a statement about the funding, “this financing will allow us to deliver even higher quality reach and drive performance for our advertising partners through the implementation of state of the art optimization and targeting technologies…additionally, we are actively working to extend our offerings, therefore providing similar success to advertisers in Latin America.”