Mubi Raises $7.5M in Series D Funding
Mubi, a Palo Alto, CA-based global video on demand platform, raised $7.5m in Series D funding.
Backers included Floreat, MMC Ventures and White Star Capital, along with existing angel investors Martin Varsavsky, Simon Patterson and Joe Osnoss of Silver Lake Partners and film producer Eric Fellner.
The company intends to use the funds to expand its film service.
Founded in 2007 by Efe Cakarel, Mubi is a subscription platform that offers on demand films (from classics to contemporary festival-winners) across multiple devices.
The service is currently deployed in 12 countries at an average price of 2.99GBP/4.99EUR/4.99USD per month and is available on the web, iPhone, iPad, SAMSUNG TVs, SONY TVs and PlayStation 3. In the first quarter of 2014, the company will also launch the Android version of the service.
Mubi, which now has 7 million registered users, has offices in London, Istanbul and Munich and 50 employees.