FilmRise Raises $50 Million in Funding8 Sep, 2017 By: Erik Gruenwedel
Upstart distributor FilmRise announced raising $50 million in financing to further acquisition of film and television titles. The new funds bring total acquisition capital raised to date to more than $110 million.
The funding was led by Arena Investors and negotiated by FilmRise CEO Danny Fisher, CFO Goetz Grossman, and John Eck, managing director from Arena.
FilmRise licensed digital rights to classic TV series from Carsey-Werner, including “Roseanne” and “3rd Rock from the Sun,” and recently announced a partnership with Amazon to make these shows available on Prime Video.
The distributor’s recent theatrical releases include Marjorie Prime, starring Jon Hamm, Geena Davis and Tim Robbins, and Manifesto, starring Academy Award winner Cate Blanchett in 13 distinct roles. The distributor will release My Friend Dahmer, starring Ross Lynch and based on the best-selling graphic novel, in theaters Nov. 3.
“FilmRise has helped to redefine the digital landscape by embracing the way programming — film and television — is being delivered to audiences today,” Daniel Zwirn, CEO of Arena Investors, said in a statement. “We are impressed by their cutting-edge and expansive distribution partnerships with industry leaders, and we’re thrilled to support them as they continue to grow rapidly.”
FilmRise last year distributed White Girl, which generated $200,000 at the domestic box office and was released on disc April 11; crime documentary, The Witness, which was shortlisted for the 2017 Academy Awards and released on disc last September; and doc Harry & Snowman, released on disc Jan. 31.