Brad, a US-based online video producer backed by over-the-top media company Chernin Group, has raised $30m in a round led by private equity firm Anchorage Capital, TechCrunch has reported.
Founded in early 2017, Brat produces scripted dramas starring teenagers for a teen demographic, for viewing on online streaming platforms such as YouTube.
Brat’s network of shows are built around a shared universe created by the company, with all of its vloggers attending the same fictional high school. It spends hundreds of thousands of dollars per season on its shows, as opposed to the seven-figure sums traditionally found in TV.
The company has slowly been pushing into long-form content, taking its flagship show, Chicken Girls, from four-minute episodes to a 22-minute show planned for its season finale.
Venture capital firm A. Capital previously led a $10m series A round for Brat in November 2017, with participation from Lerer Hippeau Ventures, Advancit Capital, Box Group and Durant Company.
Chernin Group invested in the company as part of a $2.5m seed round in July 2017, participating alongside Lerer Hippeau Ventures, Advancit and Box Group.