Tubi TV, an ad-based OTT-VOD service, said it has landed a $20 million round of funding led by Jump Capital alongside help from existing investor Foundation Capital, which led Tubi TV’s Series A round.
Tubi TV, which counts Sony-owned Crackle and Vudu among its competitors, said the new funding, which also included participation from Danhua Capital and Cota Capital, will be used to fuel growth and expansion and to bulk up its “premium” OTT ad inventory.
Jump Capital’s Yelena Shkolnik and Foundation Capital partner Joanne Chen were recently appointed to Tubi TV’s board of directors.
The San Francisco-based ad-VOD specialist has raised about $30 million, according to Crunchbase.
Tubi TV’s content partners include Lionsgate, MGM, Paramount Pictures and Starz. MGM Studios and Lionsgate made equity investments in adRise, the company behind Tubi TV in 2015, thought the amount was not disclosed.
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Tubi TV said it now touts a VOD library of more than 50,000 titles, and that its audience grew by a 9x growth rate in monthly active users in 2016.
Tubi TV supports several platforms, including web browsers, Android and iOS mobile devices, Roku players, Apple TV and Amazon Fire TV devices, Xbox One and Xbox 360 consoles, the Chromecast streaming adapter, as well as connected TVs and Blu-ray players from Sony, and Samsung smart TVs.
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