Media company A+E Networks led a £5m ($6.4m) round for UK-based video livestreaming service TVPlayer on Monday that also featured existing investors including venture capital firm Beringea.
TVPlayer offers a video streaming service that offers more than 100 channels to subscribers to watch on desktop, mobile, tablets and smart TVs. Those channels cover networks from broadcasters including A+E, Fox, Viacom, Discovery, Eurosport, Sony, Turner, Scripps, ITV, Channel 4 and Five.
The startup is targeting customers who would not otherwise pay for premium television services, and has accumulated more than one million active users. It will spend the capital on expanding distribution of the service and launching a TV-based marketing campaign.
TVPlayer raised the funding in conjunction with it spinning out of its parent company, cloud-based video technology provider Simplestream.
Adam Smith, TVPlayer’s founder, said: “TVPlayer has already succeeded in building a first-class content delivery platform and being the first provider in the UK to launch a legal live TV streaming service carrying all of the major channels.
“With our investors’ support, we look forward to focusing on our efforts on customer acquisition and subscriber growth.”