Genius Brands International has successfully raised a $4.5 million investment round of convertible debt with an aim of driving the success of its pre-school property, Rainbow Rangers.
Led by the financier Robert Wolf of 32 Ventures, the oversubscribed funding generated participation from both existing as well as new investors. 32 Ventures is a private investment arm of 32 Advisors LLC which serves public and private companies and financial institutions.
Rainbow Rangers is set to hit the marketplace on Monday, November 5th this year, debuting on Nickelodeon’s Nick Jr. and in the late spring via a retail rollout led by the toymaker Mattel.
The CGI animated series follows the rescue-based adventures of seven nine year old girls who live on the other side of the rainbow and serve as Earth’s first responders. Protecting people, animals, resources and the beauty of the natural world.
“Genius Brands is entering a powerful growth phase as a leader in the children’s entertainment space,” said Robert Wolf of 32 Ventures. “They’re equipped with some of the most unique new entertainment brands for kids and have built a global distribution system that reaches children across its platform of choice.
“I am thrilled to lead this investment round at this pivotal and dynamic period of expansion.”
Andy Heyward, chairman and CEO of Genius Brands, added: “Our Rainbow Rangers property is poised to become a widely recognised and beloved kids’ brand - both on screen and on shelves, as we have the support of the number one rated kids’ network, Nickelodeon’s Nick Jr and top licensors like Mattel.
“We are thrilled that a top former banker and prominent executive such as Robert Wolf shares our enthusiasm for our company and one of our marquee properties, and chose to lead our latest funding round.”
Rainbow Rangers’ retail roll out will begin in the US in spring 2019. It has 20 licensees on board already, including global master publisher Macmillan Children’s Publishing Group, Imprint and Bentex Group for master apparel.
NASDAQ has even invited GBI to host a Rainbow Rangers launch event from New York City’s Times Square this November.