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Iflix.com Secures $133 Million in Funding

7 Aug, 2017 By: Erik Gruenwedel

Upstart subscription video-on-demand service iflix.com Aug. 7 announced it has secured $133 million in venture funding from Hearst. The new funding brings the amount raised in 2017 to $220 million.

Other investors include Evolution Media, Sky PLC, Catcha Group, Liberty Global, Jungle Ventures and PLDT, which also increased their investments.

Launched in 2015 and available in 19 markets across Southeast Asia, including Pakistan, Vietnam and Myanmar, iflix.com is targeting Netflix and Amazon Prime Video by enabling subs to stream U.S., Asian regional, local TV shows and movies for a monthly fee.

“As iflix continues to grow and pioneer new ways for consumers to enjoy entertainment on their terms, we were looking for a partner who could bring additional expertise and knowledge to our business,” iflix co-founder and CEO Mark Britt said in a statement.

Hearst is an investor/owner in many video brands, including ESPN, A+E Networks, Vice, AwesomenessTV, and Complex, among others.

Earlier this year, Sean Carey, VP of global television at Netflix, left the SVOD pioneer to join Iflix as chief content officer.

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