Endeavor has invested in content creation platform Tongal.
The entertainment, sports and content company, which had been using Tongal for several months to develop video content, podcasts and series, participated in a $13 million financing round that was led by venture capital and private equity firm Insight Partners.
Tongal, which was founded in 2009, is a collaborative work platform where brands and content companies can commission projects from independent creators. Its partners include NBCUniversal, National Geographic, The LEGO Group, NASA and other brands. It also recently partnered with Simon Cowell and his son, Eric, to create children’s franchise Wishfits.
The company plans to use the funding to build out its technology and infrastructure and invest in its web-based workflow tools.
“I’m proud to have Endeavor join our investors at Insight Partners to accelerate the growth of our platform business and further advance our community and the content they are creating,” said co-founder and CEO James DeJulio said in a statement. “It’s the perfect combination of an amazing financial partner and amazing strategic partner.”
Tongal has previously raised more than $20 million in funding.