New York-based investment firm Tiger Global has made an investment amounting $5 million in Contagious Online Media, the parent of YouTube channel and over-the-top (OTT) digital media platform The Viral Fever (TVF) and TVF Play, as per regulatory filings sourced by business signals platform Paper.vc — via Financial Express.
Regulatory filing documents show that Tiger Global is putting around $5 million in TVF’s Series D round through its Internet Fund III.
According to Paper.vc, which tracks funding in startups, TVF’s post-round valuation grew by at least 13.8% in the new round to $82 million, compared to its previous fund-raise. However, it could not be ascertained if TVF would raise money from other investors as part of its new round.
This is not the first time Tiger Global is making its bet on TVF as earlier in February 2016, the hedge fund had invested $10 million in the digital media platform for a 20% stake.
Since 2016, TVF has launched new YouTube channels for original content, which include – Girliyapa, a female-run channel, The Screen Patti, and The Timeliners, headquartered in New Delhi. TVF currently has offices in Mumbai, New Delhi, and Palo Alto.
So far, TVF has raised a total of $21 Mn in funding over three rounds — all led by Tiger Global, according to the data by Crunchbase.
Started by Arunabh Kumar as an online YouTube channel by TVF Media Labs in 2010, TVF is currently owned and operated by Contagious Online Media, which is based out of Mumbai.
This year, TVF got much appreciation when it released Kota Factory, a TVF original series, which is a story of a 16-year-old IIT aspirant Vaibhav Pandey, who comes to Kota, Rajasthan from his hometown in pursuit of his dreams.
Tiger Global, which has closed $3.75 billion fund in October 2018 called Private Investment Partners XI, hs recently led a $22 Million Series B round of funding of Locus, a global AI backed supply chain optimization startup, in late last week.
Last month, we reported that Tiger Global Management is likely to invest in as many as 5 SaaS (software-as-a-service) companies in India in May which includes Locus.
The new fund of Tiger Global is aimed at backing companies in consumer internet, cloud, and industry-specific software markets along with consumer brands companies in China, India and the US.