9/14/2023 0 Comments Plex cloud 2020![]() Including this financing, Plex has raised more than $60 million. Meanwhile, some of its earliest investors were able to get a 10x return or greater on their shares.Īs part of the round, Intercap chairman and CEO Jason Chapnik joined the board of directors as chairman, and Intercap president James Merkur also joined the board. The company declined to disclose its valuation as a result of the funding - technically Plex’s Series C - but says it resulted in a relatively low dilution for its existing investors who have stayed in, including Kleiner Perkins and Nexstar, for example. Of the $50 million raised, $15 million will be put to work as new growth capital. This is the first financing Plex has taken on since 2014 and is being partly used to purchase shares and options from Plex’s early seed investors and shareholders from prior acquisitions, and to give the company’s earliest employees a bit of liquidity. Streaming media software maker Plex announced today it has raised a $50 million growth equity round from existing investor Intercap ahead of its planned business expansion into rentals, purchases and subscription content.
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