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A $6.5 Million Christmas Present for Ted Leonsis’s SnagFilms

Funding

Christmas came a day early for DC-based SnagFilmsLaunched 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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About the Author

Ronald Barba is an associate writer and reporter for Tech Cocktail. Formerly a DC native, he's now based in New York City. He reports on the Mid-Atlantic and Northeast, looking at startup communities like Boston, Chicago, D.C., and NYC. He's especially interested in venture capital, M&As, and tech/business trends. Aside from startups, Ronald is interested in philosophy, cognitive science, politics, social justice, pop culture, and all things geek. He reads Murakami and Barthes, and alternates binge watch sessions of 'Doctor Who' and 'The Mindy Project'. Got something to say? Then email me (ronald@tech.co). Follow me on Twitter: @RonaldPBarba. Subscribe to me on Facebook. Find me on Google.

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