Big Cabal Media (BCM), a leading African digital media company, announced a $2.3 million seed funding round, indicating the company’s commitment to continuing to create interesting and credible media products and brands.
Existing investors Unicorn Capital Partners and Future Africa participated in the latest funding round. Mac Venture Capital and Luminate Capital Partners were among the new investors who took part.
TechCabal was founded in 2013 by Bankole Oluwafemi as a deliberate effort to cover Nigeria’s expanding digital scene.
While the publication began by focusing just on the Nigerian startup scene, it quickly expanded to include all of Africa.
New product releases, regulatory wrangling, and the stories of various participants in the digital economy are all covered by the publication.
Seyi Taylor joined TechCabal as co-founder and CEO a year after it launched, while Oluwafemi stayed as Editor-in-Chief. They kept expanding TechCabal’s reach and expanding its businesses. With the launch of Zikoko in 2016, the duo decided to attempt something new, a newspaper that many compared to Buzzfeed at the time. Zikoko has evolved from just publishing listicles and quizzes to presenting essential stories about Nigerians’ daily lives, earning it the moniker “Nigeria’s most viral publisher.”
The company established a significant events division, formed the Cabal Creative content studio, which has worked with a number of Fortune 500 customers like Google and Coca-Cola and established TC Insights, a digital economy consulting firm.
BCM had previously raised little over $600,000 in funding and has since evolved to become one of Africa’s most interesting media and tech businesses.
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