Live TV Streaming Service Philo Raises Over $40 Million From AMC Networks, Discovery, Viacom

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Live-streaming television service Philo announced Tuesday that it raised an additional $40 million in Series C funding from its existing investors including AMC Networks, Discovery and Viacom.

Philo says the new cash infusion will go towards product features, enhancements and expand marketing efforts. The company is also developing additional innovations, including a socially-driven TV experience.

Philo, which caters towards entertainment, lifestyle and knowledge programming, also said it launched on Amazon’s Fire TV and Apple TV. The service is already available on Roku devices, desktop and web browsers, iPhones, and Android devices via Chrome.

The San Francisco-based company launched last year with a price point of $16 a month, including more than 40 channels from A+E, AMC Networks, Discovery, Scripps and Viacom

“Our goal is to build a television service that people love. The expansion onto Amazon Fire TV and Apple TV is a natural extension for us and allows many new people to discover and enjoy Philo, as well as expanding the viewing options for our existing subscribers,” explained Andrew McCollum, Philo’s CEO. “We’re thrilled with the response we’ve seen to Philo so far, but we’re always looking for ways to make it even better, and this is another big step forward in that direction.”

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