Ad-supported video-on-demand service, Tubi TV, has raised US$20 million in Series B funding.
‘Expansion stage’ venture firm Jump Capital led the round, with participation also coming from new investor Danhua Capital and return backers Cota Capital and Foundation Capital.
The Wall Street Journal first reported news of the financing, which was confirmed on Twitter by Tubi TV founder and CEO Farhad Massoudi.
Massoudi told the WSJ that Tubi TV will use the new funds for marketing and to invest in its in-house analytics and recommendation platform. The new round takes Tubi TV’s total funding to US$34 million to date.
Tubi TV is a US-based VOD service that has partnership deals in place with companies including Lionsgate, MGM, Paramount, Starz, The Weinstein Company, Sky and ITV.
Tubi TV’s content is free to watch and available across “all major streaming devices” – including Android, Apple, Roku and Amazon devices.
#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
DTVE: #TheWeekinView: @netflix: another stellar quarter in an evolving competitive landscape #SVOD #Disney #Sky hhttps://t.co/pfDQG9y6fg
20 April 2018 @ 16:05:00 UTC