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.”
PROMOTION: Live Webinar: The Secrets to Delivering Low-Latency #Live #Video, Globally - @llnw TOMORROW at 4pm GMT - hhttps://t.co/cBAVZIWQgi
23 April 2018 @ 09:22:00 UTC
#MostRead this week: #F1 unveiled its own plans for an #OTTTV service, to be launched in May in time for the hhttps://t.co/76qx8Jqkk3
22 April 2018 @ 09:05:00 UTC
DTVE: #TheWeekinView - @netflix: another stellar quarter in an evolving competitive landscape #SVOD #Disney #Sky hhttps://t.co/grljz7fDaH
21 April 2018 @ 16:04:00 UTC
#Crunchyroll debuts linear block in Brazilian market https://t.co/D12gTaeuwg
20 April 2018 @ 17:00:02 UTC
.@AMC_TV's #SundanceNow streaming service takes Sharon Horgan show https://t.co/fm5XwbBtAm
20 April 2018 @ 16:30:00 UTC