December 26, 2013
Christmas came a day early for DC-based SnagFilms. Launched in 2008 by Ted Leonsis, the documentary video streaming platform has reportedly raised $6.5 million, according to Washington Business Journal.
According to the Form D filing it submitted to the SEC on Tuesday, the $6.47 million in equity comes from a total of 18 investors. The investors include Leonsis (who founded the company and now chairs the board), Miles Gilburned of ZG Ventures, Peter Baris of New Enterprise Associates, and Tige Savage of Revolution Ventures – all of whom sit on the board. The filing also suggests that the company is looking to raise a total of $11.47 million.
Prior to this round of funding, SnagFilms raised $6 million this past January, with investment from Leonsis, New Enterprise Associates, Comcast Ventures, Terry Semel (former Chairman of Yahoo! and now a Board member for SnagFilms), and CNF Investments. With the report of this most recent filing, the company has now raised a total funding of $29.5 million since 2008.
It’s likely that there’s more to the story, so we will continue to update as we learn about the funding.
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