The factual streaming service CuriosityStream has secured some $140 million in private placement funding to bolster its global growth.
CuriosityStream will use the funds, in addition to its other revenue sources, to boost spending on factual programming, drive technological advancement in content discovery and market the service globally.
“This is an important step in a significant effort to connect CuriosityStream with viewers around the world,” said Clint Stinchcomb, president and CEO of CuriosityStream. “Hundreds of millions of people globally are migrating to on-demand television and entertainment. We are in the middle of a seismic shift in consumer behavior, and this funding will accelerate the dynamic growth we achieved in the last 12 months.”
Stifel Investment Banking acted as sole placement agent. New investors include Blum Capital Ventures and TimesSquare Capital Management.
At the end of 2018, the service—launched by Discovery Channel founder John Hendricks—reached the milestone of 1 million paying subscribers. It also saw its content library grow to more than 2,000 titles.