US-based online television platform Pluto TV has raised $30m from investors including media companies ProSiebenSat.1, Sky and Scripps Networks Interactive at a $143m valuation, Variety reported on Wednesday.
ProSieben led the series B round, which also featured investment manager Sallfort PrivatBank, US Venture Partners, Luminari Capital, Chicago Ventures and Thirdwave Capital Partners.
Pluto TV provides an online service that offers more than 100 channels presented as continual online streams. Its content partners include Sky as well as NBC, Bloomberg, Paramount and A&E.
The company has about 5 million monthly active users in the US and has used the new funding to acquire Germany-based counterpart Quazer in order to give it a foothold in Europe.
Tom Ryan, chief executive of Pluto TV, told the Financial Times: “ProSieben is the largest independent media company in Europe and can help us in a variety of ways, such as thinking about how we programme for German-speaking and other European markets.”
The round comes after a $13m series A round in November 2014 led by US Venture Partners that included Sky, talent agency United Talent Agency, Chicago Ventures, Great Oaks Venture Capital and Luminari Capital.
Sky had supplied $500,000 in seed funding to Pluto TV the previous month, and according to the company’s website its other investors include record company Universal Music Group, Pritzker Group, Windsor Media and angel investors including actor Jared Leto.