Struum Secures $7 Million Funding Round Led by Corus

The streaming service Struum, created by senior-level Disney and Discovery executives, has finalized its Series A funding round, led by Canada’s Corus Entertainment.

Struum is backed by an initial multi-million-dollar investment from former Disney CEO Michael Eisner through his Tornante Company.

The new $7 million round also includes Gaingels, an investment syndicate in support of and representing the LGBTQ community and allies in the venture capital space.

The new funding will enable Struum to continue to grow its content library, enhance its technology features and begin to map out expansion outside of the U.S.

The additional funding comes as Struum expands the reach of the service beyond iOS to Android-based devices, Roku, Amazon Fire TV and Apple TV. Over the coming months, Struum plans to continue adding more streaming partners to its lineup of tens of thousands of movies and TV series. It will also be bringing the service to new platforms and making additional enhancements to its interface. Looking to 2022, international expansion is planned, starting with Canada, as well as other territories.

Struum is from founders Lauren DeVillier, former head of product for Discovery Ventures and head of digital for Disney Channels; Eugene Liew, former VP of product and technology at Disney+; Paul Pastor, former executive VP of strategy, revenue and operations at Discovery Networks; and Thomas Wadsworth, former lead advanced product development for Walt Disney Imagineering.

In addition to Eisner, the company has amassed a roster of entertainment and technology executives for its advisory board and executive team, including Nancy Tellem, former president of CBS Entertainment and Xbox Entertainment; Ben Pyne, former president of Disney/ABC Television Distribution; and Donald Hicks, VP of trust policy and partnerships at Airbnb.

DeVillier, CEO of Struum, said, “My co-founders and I are thrilled to have Corus Entertainment invest in this round alongside Gaingels. Our early traction with consumers proves there is a strong interest and demand for a service like Struum. With continued support from Tornante and specifically Michael Eisner and now Doug Murphy at Corus Entertainment, we look forward to reaching our goal of bringing more content to the service, expanding our platform reach and launching in more territories beyond the U.S.”

Doug Murphy, president and CEO of Corus Entertainment, said, “Struum is at the forefront of innovation with its unique credit-based subscription service, backed by a talented team of senior executives with deep experience in the subscription video and content space. We are excited to be a part of this highly differentiated streaming product as both a lead investor and as Struum’s exclusive launch partner for the Canadian market.”

Pastor, CBO of Struum, said, “Our core mission with Struum is to help content owners get their content discovered and help viewers discover great content. The investment from Corus, Gaingels and our other investors will play a pivotal role in enabling us to further build out a world-class user experience that enables us to over-deliver on our mission and establish us as a key player in the streaming industry.”