Streaming media company Plex raises $40M as it nears profitability

Jan 30, 2024•almost 2 years ago

Amount Raised

$40 Million

Los AngelesFilm

Investors

Kleiner PerkinsIntercap

Description

Plex has raised $40 million in a round to fuel the company’s push toward profitability, expected by year-end or just after. The round includes existing Series C investors Intercap and Kleiner Perkins.

Company Information

Company

Plex

Location

Los Angeles, California, United States

About

Plex is ending the streaming struggle by offering a single hub to easily find and play any movie or TV show, no matter where it's streaming. Available worldwide, Plex is the only service that provides free access to tens of thousands of on-demand titles, movies, and TV shows, alongside hundreds of free-to-stream live TV channels. The streaming platform also uniquely combines free entertainment, premium movie rentals, and your personal media collection in one place, bringing all your favorite content together. Partnering with major entertainment brands, Plex continually expands its library of free third-party content across all genres, interests, and languages, offering one of the most comprehensive selections of international content in 81 languages.

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Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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