VHX, US-based direct-to-fan distribution platform for premium video, has raised US$3.2 million (€2.4 million) in Series A funding, led by Union Square Ventures.
Existing investors Lerer Ventures, Lowercase Capital, and Alexis Ohanian, as well as new investors William Morris Endeavor.
John Maloney and Gunderson Dittmer, also contributed to the round. Andy Weissman of Union Square Ventures will join VHX’s board of directors.
VHX said that it would use the cash to expand its Brooklyn-based team, open up its publishing platform, and launch apps for numerous devices.
Founded in 2011, VHX enables creators to sell videos from their own custom-themed websites. The VHX platform is still in private beta, but the company say it has already worked with artists like Aziz Ansari, Dave Grohl and Ira Glass and launched 60 releases to 300,000 customers, generating US$2 million-plus in gross revenue.
“We help creators give audiences what they want: simple purchasing, videos that work everywhere, and the opportunity to support artists directly,” said VHX co-founder Casey Pugh. “Artists have used the VHX platform to release films, shorts, serials, collections, educational videos and more.”
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29 November 2020 @ 16:00:00 UTC