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

December 26, 2013

5:45 pm

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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Ronald Barba is a senior writer and editor for Tech.Co. His primary story interests include industry trends, consumer-facing apps/products, the startup lifestyle, business ethics, diversity in tech, and what-is-this-bullsh*t things. Aside from writing about startups and entrepreneurship, Ronald is interested in 'Doctor Who', Murakami, 'The Mindy Project', and fried chicken. He is currently based in New York because he mistakenly studied philosophy in college and is now a "writer". He also likes to cook things; you can check out all the noms on his Instagram. Email Ronald ([email protected]) or tweet @RonaldPBarba. You can also subscribe to him on Facebook or find him on Google.

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