Nonprofit newsroom Capital B has raised $24.5M, a significant infusion for a media outlet focused on serving Black audiences nationwide. The round includes backing from Adam Back and TOBAM, though the company has not disclosed the exact structure of the deal.
Cofounded by veteran journalists Lauren Williams and Akoto Ofori-Atta, Capital B produces original, trustworthy reporting tailored to Black communities across the country. The funding arrives as local news outlets face ongoing financial strain, making this a notable bet on a mission-driven model with national reach.
