US-based video streaming platform Pluto TV has raised $13m in a series A round that included broadcasting, media and telecommunications company Sky and talent agency United Talent Agency.
Venture capital firms US Venture Partners, which led the round, Chicago Ventures, Great Oaks Venture Capital and Luminari Capital, itself backed by Sky with $8m in November 2013, also participated.
Pluto previously raised $500,000 in an October 2014 seed round led by Sky, and will use the series A funding to support growth and to increase its content and availability. Record label Universal Music Group and semiconductor maker Intel are reportedly also investors in the startup.
Pluto TV offers online video channels curated with a mix of technology, data gathering and staff input. It currently counts more than 100 channels which are available for free on smartphones, tablets and computers.
Rick Lewis, general partner at US Venture Partners, said: “With the explosion of premium content available on the web and consumers increasingly watching video across various devices, Pluto is poised to be the top destination for viewers looking for the best programming in one place.
“Pluto has risen as a market leader in the online video space and US Venture Partners is thrilled to be part of the next wave of the company’s growth.”