Social entertainment company Milyoni has raised $11 million in a Series B round led by Oak Investment Partners. Previous investors ATA Ventures and Thomvest Ventures also participated in the round. The money will be used for further development as well as to open offices in Los Angeles and New York.
Milyoni, the leader in social entertainment, today announced that it has
secured $11 million in Series B financing led by Oak Investment Partners.
Previous investors ATA Ventures and Thomvest Ventures also participated
in the round. Milyoni will use the funding to further extend its product
portfolio in bringing social entertainment experiences to fans on
Facebook. The company will also expand its U.S. presence, with offices
opening in Los Angeles and New York City.
“With more than 800 million users and growing, Facebook has established
itself as a go-to platform for the discovery and consumption of content
today,” said John Corpus, founder and CEO. “In 2012, we anticipate an
even greater shift in behavior, with more entertainment companies putting
the marketing muscle behind their Facebook presence to further expand
their selections of movies, music and other content on the platform. The
way we see it, we’re only in the first of a nine inning game.”
Milyoni provides a new way for entertainment companies to take their
Facebook presence to the next level by providing a fun, unique, shared
and social experience to users. Using Social Cinema and Social Live, fans
can easily view, like and comment during particular points within a
movie, TV show, sporting event or concert and chat with friends while
watching. Over the last year, Milyoni has powered some of the biggest
social entertainment campaigns on Facebook and has stamped a number of
innovative firsts, including the first PPV movie on Facebook, the first
live PPV concert on Facebook, the first socially interactive movie and
the first day-and-date movie release on Facebook.
“Oak Investment Partners is excited to join the Milyoni team to further
extend their stronghold in the social entertainment arena,” said Fred
Harman, Managing Partner at Oak Investment Partners. “The company has
shown tremendous traction and growth over the last year, hosting more
than 100 titles on Facebook today. The audience for Milyoni’s technology
continues to expand along with Facebook’s growth. We’re confident that
the Milyoni team has both the passion and experience to propel the
“We’ve believed in Milyoni from the beginning and have seen the company’s
growth mirror that of the entertainment industry’s needs,” said Hatch
Graham, Managing Director, ATA Ventures. “Milyoni’s technology has
evolved into the powerhouse social entertainment platform it is today,
and the company is poised to continue its leadership in the space. ATA
Ventures is thrilled to be a supporting partner.”
Milyoni is primed for an impressive 2012 with 15 current studio
partnerships and dozens more in the pipeline. The company has more than
3,000 Social Cinema titles and over 50 Social Live events slated by
year’s end. Milyoni will continue to enrich studio interaction,
administration and analytics functionality bringing unprecedented insight
and engagement to the entertainment experience.
For more information, visit http://www.milyoni.com.
Based in the San Francisco Bay Area, Milyoni, Inc. is the
leader in social entertainment. The company’s technology provides
entertainment companies with a way to connect and engage with Facebook
fans, and turn them into customers. Whether it’s watching a live concert,
movie or sporting event or shopping your favorite brands, Milyoni enables
companies to monetize fans pages through a unique level of engagement and
a shared, social experience. Milyoni’s services reach over 150 million
fans from industry leading customers, including Universal Pictures,
Lionsgate, Paramount Studios, Big Air Studios, Austin City Limits Live,
Turner Broadcasting, University of Oklahoma and The NBA to bring a
variety of digital content and physical goods to fans on Facebook. For
more information, visit www.milyoni.com.
About Oak Investment Partners
Oak Investment Partners is a multistage
venture capital firm and a lead investor in the next generation of
enduring growth companies. Since 1978 the firm has invested $9 billion in
nearly 500 companies around the world, earning the trust of entrepreneurs
with a senior team that delivers steady guidance, deep domain expertise
and a consistent investment philosophy. Its current portfolio includes
Bleacher Report, Demand Media, Federated Media, Good Technology, KAYAK
Software, MobiTV, Rearden Commerce, and Wonga. Oak Investment Partners is
also known for its historical investments in aQuantive, Allyes,
AthenaHealth, Gmarket, HuffingtonPost, Inktomi, Netspend, Polycom,
Seagate, and TeleAtlas.
About ATA Ventures
ATA Ventures is a venture capital firm focused on
seeking out early stage private companies that appear to offer above
average prospects for capital growth. With over $450 Million of capital
under management, ATA Ventures focuses on Information Technology (IT) and
provides seed capital and early stages of financing to these companies.
For more information, visit http://ataventures.com.
About Thomvest Ventures
Thomvest Ventures is an early-stage venture
capital firm committed to the success of our entrepreneur partners. We
primarily focus on investments in areas where we have deep expertise and
experience, including software, technology-enabled services, and hardware
businesses. The capital we invest is our own, enabling us to be more
creative, flexible and patient than many venture investors. More than
two-thirds of the companies we have funded in the last decade have either
gone public, been acquired, or continue to grow as independent
Take your pick!
- Buyouts delivers exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more. Get your FREE trial or subscribe now.
- VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more. Get your FREE trial or subscribe now.