Pluto TV Raises $13 Million in Series A Funding Led by U.S. Venture Partners
Company Adds Ross Levinsohn, Ken Parks and Stephane Kurgan as Company Advisors
11/20/2014 – Los Angeles – Pluto TV, a video platform that allows viewers to watch the most entertaining online and traditional content in one place, today announced it has closed a $13 million Series A financing led by USVP with participation from United Talent Agency as well as existing investors Sky plc (formerly BSkyB), Chicago Ventures, Great Oaks Venture Capital and Luminari Capital. The proceeds will be used to continue growing Pluto’s platform and broaden its content offering and availability across Web, mobile and connected TVs. Rick Lewis, general partner at USVP, has joined the board of directors. The round comes after previous investments from Universal Music Group, Terry Semel’s Windsor Media, Pritzker Group and numerous angel investors that represent some of the biggest names in digital media and technology.
“Since launching in March, Pluto has had an incredible amount of momentum. We’ve added many leading content partners and distributed Pluto across web, mobile and connected TVs, including the latest devices from Amazon and Google. Our viewers love the effortless, lean back entertainment they get from our 100+ channels of the best content professionally curated from the infinite amount of video available online, ”said Tom Ryan, co-founder and CEO of Pluto TV. “We’re excited to have a firm of USVP’s caliber lead our round and partner with us to take the company to the next level.”
“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,” said Rick Lewis, general partner at USVP. “Pluto has risen as a market leader in the online video space and USVP is thrilled to be part of the next wave of the company’s growth.”
The company also announced that Ross Levinsohn, former CEO, Yahoo! and executive chairman, Scout; Ken Parks, chief content officer, Spotify; and Stephane Kurgan, COO, King Digital Entertainment, have joined the company as advisors.
About Pluto TV
Pluto TV is an online video platform that offers television channels for the Internet and a new way to experience the most entertaining and engaging content on the web. Curated using sophisticated technology, data and a team of experts, Pluto TV is organized into popular common interest categories like music, sports, news, entertainment, comedy, lifestyle, tech, art & culture, education and kids, and features over 100 channels available for free, 24/7 on any device. Pluto TV is available on mobile phones and tablets through iOS and Android apps; connected TV devices such as Amazon’s Fire TV & Fire TV Stick, Google’s Nexus Player & Chromecast and Apple AirPlay; as well as the web. The company is headquartered in Los Angeles.
USVP is a leading venture capital partnership, helping entrepreneurs transform their ideas and efforts into world-changing companies. The firm focuses on early-stage ventures in information technology and health care, where innovation is unbridled and has led to the creation of economic wealth and millions of jobs over the past thirty-plus years of the firm’s existence. Areas of particular interest to our investment professionals include enterprise software, IT security, consumer internet, mobile, and e-commerce, healthcare, and IT-enabled healthcare services. The USVP team consists of former entrepreneurs, technologists, corporate executives, financial professionals and industry domain experts.