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SnagFilms raises $8M for OTT service ViewLift

SnagFilms has raised $8 million funds for ViewLift, its OTT business. It launched its Apple TV app, which will have 100s of free TV shows and indie films. It is supported on 28 mobile platforms. According to Crunchbase, SnagFilms had raised $22.47 million in the last 3 rounds which was used to build the news site Indiewire.com. It was later bought off by Penske Media Corp. (Variety’s parent company). Considering the growth in OTT, this $8 million funds is “the first raise we’ve done exclusively for ViewLift,” said CEO Rick Allen.

Source: Variety

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