DramaFever Raises $6 Million
DramaFever is an online video platform company that has raised $6 million in funding from AMC Networks, Bertelsmann, and NALA Investments. Machinima co-founder and CEO Allen DeBevoise along with LowerMyBills.com founder and CEO Matt Coffin joined this round of funding.
Former Fox TV Entertainment Group chairman Sandy Grushow is joining DramaFever as the strategic advisor. Grushow will be working with DramaFever co-founder Seung Bak on branding and marketing. This round of funding is subsequent to the $4.5 million Series B investment that DramaFever received this past March led by venture capital firm MK Capital.
“We’re fortunate to have attracted such a strong, diverse group of investors comprised of media powerhouses and individuals regarded as those on the cutting-edge of online video” stated Bak. “DramaFever is enabling foreign content creators to cross borders and more easily identify new North American markets for their programming where consumer interest is strong and more likely to add revenue, and it’s not hard to imagine what’s coming soon.”This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry