Internet TV play Pluto TV raises $30M in Series B round

By Jim O'Neill on Oct 12 2016 at 12:15 PM

Ad-supported Internet television service Pluto TV, looking to aggressively expand its brand to Europe, has raised $30 million in a Series B funding round led by Germany’s ProSieben and Scripps Networks.

Pluto TV previously raised $13M with investors like US Venture Partners, Sky, Chicago Ventures, Universal Music Group, United Talent Agency and Pritzker Group.

Pluto TV is available on connected devices like Roku, Apple TV and Amazon Fire, Android and iOS mobile devices and on PCs.

The company streams 100+ channels in a linear format.

“ProSieben is the largest independent media company in Europe and can help us in a variety of ways, such as thinking about how we program for German-speaking and other European markets,” CEO Tom Ryan said. “With this funding and the expansion into Europe, Pluto TV is uniquely positioned to become the global OTT destination for free television. That’s the goal. That’s the future of TV.”

Pluto TV claims more than 5 million users monthly.

Stay tuned.

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