Cheddar, the live news and entertainment company, today announced $10 million in funding led by previous investor Lightspeed Venture Partners, with significant participation from new investors Comcast Ventures and Ribbit Capital.

Since its launch 5 months ago, Cheddar has become a leading outlet for technology, media, startup, and culture news with its 100 consecutive daily broadcasts from the trading floor of the New York Stock Exchange and Nasdaq Marketsite. Executives like Les Moonves, CEO of CBS, Spencer Rascoff, CEO of Zillow, Marcelo Claure, CEO of Sprint, and Jeff Lawson, CEO of Twilio, have all appeared on Cheddar.

Less than a month ago, the company expanded its programming with Cheddar Life?—?a lifestyle and variety show?—?from its street-level studio in the iconic Flatiron Building. Celebrities like Snooki, Akon, and Olympic medal-winners have all appeared on Cheddar, as well as representatives from startups like Lyft, Evernote, and StyleSeat, among countless others.

“We’ll use this capital to become a full-fledged live, linear cable network?—?except not on cable, but rather leading social and OTT services,” said Jon Steinberg, founder and CEO of Cheddar. “Comcast Ventures brings deep expertise in distribution to Cheddar. Ribbit is the country’s leading investor in fintech?—?this expertise will be essential as we continue to expand our business news programming. Finally, Lightspeed’s support and guidance since Cheddar was just an idea in my head has been unparalleled.”

The company has developed a cloud-based approach to video production and streaming allowing it to broadcast multi-camera, multi-location live shows and field shoots with real time graphics. Cheddar has also rolled out a new form of advertising dubbed “Native 3.0,” where sponsors are seamlessly integrated into the daily editorial of shows with no heavy lifting or content creation.

“Cheddar has done impossible things, and at breakneck speed. Cheddar was barely a slide deck in January when we led the Series A, and now it’s a media brand that is synonymous with substantive live news and entertainment for millennials,” said Jeremy Liew, Lightspeed Ventures partner and Cheddar board member. “Jon has built a great team starting with Chief Content Officer Peter Gorenstein, who has brought tremendous video production expertise and a second sense for reinventing live formats for people in their 20’s and 30’s. Jon also got the band back together again by reuniting his core business team from BuzzFeed, most notably Eric Harris as Chief Operating Officer and Melissa Rosenthal as SVP of Partnerships. They do things in weeks that would take another team years.”

“Cheddar is bringing rapid innovation to the linear video market. In an incredibly short period of time, their lean team of 30 has built an exceptional guest booking, technology and talent operation,” said Sam Landman, Managing Director of Comcast Ventures. “Their focus on content at the intersection of technology, culture and business is clearly resonating with millennial viewers and distribution partners. As new live video distributors and formats evolve, we believe Cheddar is uniquely positioned at the forefront and that they have the opportunity to build a world class brand and business.”

“All the companies in which we are investors in financial services suddenly wanted to be on Cheddar. Across our portfolio we see millennials looking for new brands in banking, brokerage, lending, and trusted sources of information” said Micky Malka, partner and founder of Ribbit Capital. “We think Cheddar is the media brand for business news in this new world.”

About Cheddar

Cheddar is a live video news network focused on covering the most innovative products, technologies, and services transforming our lives. The network covers this news through the lens of the companies and executives driving these changes. Cheddar broadcasts from Post 10 on the trading floor of the New York Stock Exchange, the Sprint Flatiron Building Store, and NASDAQ Marketsite. The company was founded by Jon Steinberg, President and Chief Operating Officer of BuzzFeed from 2010 to 2014.