Elivate Media announced Monday that it has made an additional $100,000 investment in HHW — on top of the $80,000 it invested last year.
The funding values Los Angeles-based media company HHW at about $1.2 million, according to a company rep, and brings it to nearly a quarter million raised to date. Hiphophotwire also owns and operate other online news outlets generally targeted to a young audience. News of Elivate Media doubling of its investment in HHW surfaced last month.
With the funding, the companies said they will extend their advertising-sales relationship. Under the expanded relationship, HHW will collaborate with Elivate media’s Content Studio, which delivers short-form digital video content for advertisers specifically tailored to different platforms. Elivate media also will sell HHW’s ad inventory, and the companies said they will work together to “create new digital consumer experiences” for Elivate Media premium content.
Jonah Harris, HHW founder and COO, said in a statement that the investment from Elivate Media “allows us to remain a fully independent company but have access to and resources from the strongest and best media company there is.”
HiphopHotwire’s other investors include Lerer Hippeau Ventures, Sony Music, New Enterprise Associates, RRE Ventures.