After launching a game service and Apple TV app integration, popular media platform Plex is out today with the news that it has raised $50 million in funding to advance its goal to become the top content platform on the market.
Plex announced the news in a press release and blog post:
Hey there. Some pretty big news today, so we’ll get right to it. We just closed a significant round of funding. Same investors as before, but a much bigger commitment. A commitment to Plex, a commitment to our audacious vision, and a commitment to our community.
Plex’s big picture goal is to “give people a single pane of glass for their entire universe of media” and with the latest round of $50 million funding, the company will be using roughly $15 million to advance its work and the other ~$35 million to “purchase shares and options from employees and shareholders.”
Basically, the infusion of capital means that we’ll be able to push harder on our mission to become the single best content enjoyment platform in the world, period. We’ll be able to invest more into our engineering, product, and content teams to make sure we get the best people to solve the challenging problems that we’re tackling.
Last month we saw Plex add its free streaming video content to the Apple TV app. And earlier this year the platform launched its gaming service, Plex Arcade.
Beyond its free content, some of Plex’s big selling points include being able to create a personal media server to store all of your content, access your media across any device, watch and record Live TV, and more.
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