MaC Venture Capital has led a $2.3m Seed fundraising in Big Cabal Media (BCM), a pan-African media company headquartered in Nigeria.
Other investors in the round included Luminate, Unicorn Group, Future Africa and a range of angel investors.
BCM has previously raised about $620k in angel and pre-seed funding between 2016 and 2020. Known for creating engaging, agenda-setting content and journalism through its online platforms, TechCabal and Zikoko, as well as its content studio and digital consultancy arms, the new raise will allow BCM to grow its audiences, build out new technology products and further consolidate its position as one of the most important media and technology brands across Africa.
“We’re proud to enter this chapter with Big Cabal Media, as we fully believe in its massive potential for further success, scale and global impact,” said Marlon Nichols, Co-Founder and Managing General Partner of MaC Venture Capital.
“Investing in Africa’s booming digital media sector aligns perfectly with MaC’s mission of supporting exceptional entrepreneurs building valuable technology companies that leverage shifts in cultural trends and behaviours. I have no doubt that BCM will seize this unique opportunity to continue leading conversations in culture and helping digital consumers access the information that matters most to them.”
Launched in 2014, BCM has grown to become one of the most powerful media businesses covering technology and youth culture on the continent.
BCM has grown its services to include Cabal Creative, an in-house content studio that has produced content for global brands such as Google, Uber and Coca-Cola; and TC Insights, a data analytics consulting service focused on custom research, industry strategy and digital transformation projects.
The market for African content and culture is more global than ever and Big Cabal Media is creating the brands, content and products for Africa’s new generation of digital-first content consumers and the world.
Dr. Akintoye Akindele, Chairman of Unicorn Group, follow-on investors in the round, said, “since inception, Big Cabal has created original content that engages and resonates with audiences. This is reflected in its position as one of the best recognised African digital media brands globally. This seed series raise led by MaC Venture Capital positions the company to scale across the continent, deepen its technology stack, and diversify its brand & product offering to cater to Africa’s youthful & growing digital natives. We are excited by this next phase in Big Cabal’s growth.”