TVPlayer, a livestreaming TV platform in the UK, has completed a £5m investment round led by A+E Networks, a US-based global media content company.
Existing investors, including VC firm Beringea, also invested alongside A+E Networks.
The startup targets millennials, mobile users and households who have not previously purchased paid television, offering 60 free-to-air and 30 pay channels to UK users.
Adam Smith, founder of TVPlayer, commented: “We are very excited about the investment and the backing it provides operationally and financially for the expansion of TVPlayer.”
The investment will be used to further develop the content offering, and to expand distribution of the service in the UK. The company hopes to launch a sizeable marketing campaign in the lead up to Christmas.
“With our investors’ support, we look forward to focusing on our efforts on customer acquisition and subscriber growth,” Smith added.
As part of the transaction, TVPlayer will de-merge with its parent company, Simplestream, to operate as a standalone firm with its own management, marketing and tech teams.