Total amount raised
$133.2 Million
Latest funding date
08/01/2020
Location
Philo has successfully raised funding over 9 rounds, with the latest being a Series D round involving Republic Capital as one of the lead investors. The company is backed by 23 investors, including Sand Hill Angels and Flybridge.
Keep reading to explore the intricacies of Philo's fundraising journey and the investors backing this innovative streaming service.
What Is Philo?
Philo is a streaming service that offers live and on-demand TV, providing access to over 70 channels, including popular networks and premium content like HBO Max Basic with Ads and discovery+. The company is involved in the digital media, information technology, and TV industries.
Founded in San Francisco, California, Philo has a workforce of 101-250 employees. The service features an unlimited Cloud DVR, allowing users to save recordings for up to a year, and is compatible with various devices, including TVs, phones, laptops, and tablets.
How Much Funding Has Philo Raised?
- Series D
- Amount Raised: USD 50,000,000
- Date: August 2020
- Lead Investors: Republic Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand service offerings and enhance technology.
- Series C
- Amount Raised: USD 1,000,000
- Date: January 2020
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To increase market reach and improve business operations.
- Series C
- Amount Raised: USD 41,369,990
- Date: July 2018
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in new product features and expand marketing efforts.
- Series C
- Amount Raised: USD 22,000,000
- Date: May 2017
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand service offerings.
- Series B
- Amount Raised: USD 10,000,000
- Date: June 2015
- Lead Investors: National Education Association
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To improve overall business operations and increase market reach.
- Debt Financing
- Amount Raised: USD 2,533,000
- Date: November 2014
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational costs and business expansion.
- Series A
- Amount Raised: USD 6,300,000
- Date: July 2013
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand service offerings.
- Seed
- Amount Raised: USD 1,000,000
- Date: September 2011
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and enter the market.
- Non-Equity Assistance
- Date: June 2011
- Lead Investors: Summer@Highland
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and business setup.
Total Amount Raised: USD 134,202,990. Current Valuation: Not publicly disclosed.
Key Investors
- Republic Capital
- Details: Republic Capital is a prominent investment firm known for its involvement in various high-growth sectors. They were a lead investor in Philo's Series D funding round.
- Investment Focus Areas: Technology, digital media, fintech.
- Notable Investments: Philo.
- National Education Association
- Details: The National Education Association is a major professional organization representing public school educators in the United States. They invested in Philo during its Series B funding round.
- Investment Focus Areas: Education, public policy, community development.
- Notable Investments: Not publicly disclosed.
- New Enterprise Associates
- Details: New Enterprise Associates is a global venture capital firm that invests in technology and healthcare companies. They were a lead investor in Philo's Series A funding round.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
- AMC Networks
- Details: AMC Networks is a global entertainment company known for its popular and award-winning content. They invested in Philo during its Series C funding round.
- Investment Focus Areas: High-quality, original programming, content distribution.
- Notable Investments: "The Walking Dead", "Breaking Bad".
- Discovery
- Details: Discovery is a global leader in real-life entertainment, offering a wide range of content across various genres. They invested in Philo during its Series C funding round.
- Investment Focus Areas: Real-life entertainment, factual content.
- Notable Investments: Discovery Channel, Animal Planet, TLC.
What's Next for Philo?
Philo's future looks promising as it continues to capitalize on the growing demand for affordable, non-sports streaming services. With significant investments in new product features and marketing, the company is poised to expand its user base and enhance its offerings. The development of a social media TV experience and increased availability on platforms like Amazon Fire TV and Apple TV present substantial growth opportunities.
As Philo scales, future fundraising rounds are likely, supported by existing investors such as AMC Networks, Discovery, and Viacom. However, the company will need to navigate challenges like intense competition from other streaming services and maintaining a competitive price point while expanding its features. Ensuring a seamless user experience across multiple platforms will also be crucial for sustained growth.
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