CuriosityStream has raised approximately US$140 million in private placement funding to amplify the company’s next phase of growth.
The Silver Spring, Maryland-based factual streaming service will utilize the funds, in addition to its other revenue sources, to boost programming while also driving technological advancement in content discovery, marketing spend to build out its global distribution efforts.
Stifel Investment Banking acted as sole placement agent. New investors include Blum Capital Ventures and TimesSquare Capital Management.
“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, in a statement. “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.”
CuriosityStream reached one million paying subscribers at the end of 2018 and saw its content library grow to more than 2,000 titles. The documentary-driven SVOD service anticipates its content stable to grow to 3,000-plus by 2019′s end.
In other news, UK factual producer Arrow Media has won its first SVOD series commission from CuriosityStream.
Hosted by engineer Sean Riley, Speed (4 x 60 minutes; pictured) will examine the engineering breakthroughs that have transformed how we travel via land, water, air and into space. The series explores the challenges and successes of what inventors faced in the quest to take people farther, higher and faster.
Some of the innovations covered in the series include the invention of the world’s first self-propelled vehicle; the world’s fastest train, the L-Zero in Japan; personal submarines; the engineer whose invention enabled the Wright brothers to achieve powered flight; and engineers who invented the rocket.
“Bringing scientific invention, innovation and progress to life for a global audience is at the heart of Arrow Media’s programming experience,” said Tom Brisley, creative director of Arrow Media, in a statement.
With files from Daniele Alcinii