Iflix Video-Streaming Service Secures $133 Million in Funding
Neeraj Khemlani, the president of Hearst Entertainment & Syndication, said in a news release
that Iflix was “riding the wave of exponential growth of the middle class in emerging markets that want more access to premium regional, local and Western content.”
With the latest funding round, Iflix said it had raised more than $220 million this year.
LONDON — Iflix, a Malaysian video-streaming service
that operates mostly in emerging markets, said on Monday that it had received $133 million in a round of funding from a group led by the American media and information company Hearst Corporation.
“These new funds will allow us to further execute on our local content strategy
and expand our technology and development teams so we can continue to rapidly evolve the Iflix service to meet the unique challenges of emerging markets.”
Iflix was advised by Moelis & Company and Delta Partners and by the law firm Herbert Smith Freehills.
“From the beginning, our vision for Iflix has been to build a world-class service for the local customer, transforming the way everyday
consumers enjoy entertainment in emerging markets,” Mark Britt, the Iflix co-founder and chief executive, said in a news release.
