US-based IPTV platform Philo has raised a $10m series B round led by New Enterprise Associates (NEA) and including cable television operator Home Box Office (HBO) and news provider CBC New Media.
Rho Ventures, XFund and Andrew McCollum, chief executive of Philo, also participated in the round.
Philo’s platform is aimed chiefly at students and enables them to watch television on laptops, phones and tablets across campus. Harvard University has implemented the technology as the only way for students to watch television.
Philo will use the series B funding to further develop its technology and relocate its headquarters from Cambridge, Massachusetts to San Francisco, California.
Originally named Tivli, the company secured $6.3m for a series A round in 2013 from HBO, CBC New Media, talent agency William Morris Endeavor, Radical Investments, Rho Ventures and Felicis Ventures. NEA also led the series A round.
– image courtesy of Philo