Tout announces over-subscribed funding
October 5, 2016
Next-Generation Streaming Video Network Tout, has announced the closing of an over-subscribed $26 million (€23.1m) Series-C financing led by the Melohn Group in New York, and including new investors Terry Semel’s Windsor Media, Pittco Capital Partners and HL Capital who were joined by existing investors Seavest Capital, 819 Capital, and the WWE.
Tout now powers all video programming across more than 2,800 websites and counts more than 57 million unique video-viewers who now consume more than 350 million videos per month across the network, giving Tout one of the largest online video audience footprints outside of YouTube and Facebook.
“We are currently witnessing one of the most profound shifts the media industry has ever experienced as the Internet essentially becomes TV,” said Tout Founder & CEO Michael Downing, “From day one, this team has been committed to building-out one of the largest online video content networks to assume a critical position in this emerging landscape we welcome our new investors as they join us on this adventure.”