Tubi TV, a San Francisco, CA-based free streaming TV and movie network, raised $20M in funding.
The round was led by Jump Capital with participation from existing investor Foundation Capital, as well as Danhua Capital and Cota Capital. In conjunction with the funding, Yelena Shkolnik of Jump Capital, and Joanne Chen of Foundation Capital, both joined Tubi TV’s Board of Directors.
The company intends to use the funds to accelerate growth and expansion of Tubi TV, including its OTT premium ad inventory.
Led by Farhad Massoudi, Founder and CEO, Tubi TV is a free Internet TV network that offers a large collection of movies and TV shows that span more than 40 genre categories from comedy, drama, family & kids, classics and horror, to niche segments such as Korean dramas, anime, and British TV, via multiple platforms and devices including Android and iOS mobile devices, OTT devices such as Roku, Apple TV, Chromecast, Xbox 360, Xbox One, Sony, Samsung and Amazon Fire TV.
With content partners including Lionsgate, MGM, Paramount Pictures and Starz, Tubi TV counts more than 50,000 titles in its library and offers advertisers access to a new audience, different than online video or traditional TV advertising.