TORONTO & DUBLIN--(BUSINESS WIRE)--The QYOU, the world’s first international 24/7 network of curated, high quality, made-for-web video content for subscription video services everywhere, has successfully completed a new round of equity financing for CDN$10.4M. The QYOU has now raised CDN$14.7 million (US$11 million) since its founding in 2013. The additional equity raised will be utilized to support further expansion of The QYOU’s multiscreen product ecosystem, distribution alliances, and marketing activities internationally. The QYOU is currently available in more than 30 countries spanning Europe, the Middle East and Africa, reaching almost 5 million subscribers.
Canadian brokers Clarus Securities, Cormark, Power One Capital, and Primary Capital led The QYOU’s latest financing round.
“What began as the germ of an idea two years ago is now a growing global television network available to millions of viewers on a 24/7 basis in more than 30 countries,” The QYOU Co-Founder and Chairman G. Scott Paterson said. “It is now part of the content fabric of peoples’ lives and daily discovery of engaging, exciting, and entertaining short-form, made-for-the-web video content that reflects evolutionary and revolutionary changes taking place around the world. We believe The QYOU is poised to capitalize on massively shifting global macro trends in content creation and distribution and uniquely positioned to be part of the ‘TV Everywhere’ paradigm shift.”
“We’re incredibly grateful to have strong and growing support from the investment community for The QYOU,” The QYOU CEO and Co-Founder Scott Ehrlich said. “With this infusion of capital we’ll be able to grow our sales team, development efforts, and roll out The QYOU around the world even more aggressively than we have been.”
In addition to Paterson and Ehrlich, The QYOU’s co-founders also include President Curt Marvis and industry legend Les Garland. The co-founders all have extensive experience in both the international television and technology businesses, with leadership roles in creating some of the most successful media and technology businesses of the recent past.
About The QYOU
The QYOU finds, curates, and programs the best of internet video for the benefit of subscription service operators worldwide, from traditional cable and satellite to IPTV, OTT, mobile, and more. The QYOU's carrier partners offer the channel and other QYOU content via linear, mobile, broadband, and video-on-demand. Founded and created by industry veterans Scott Ehrlich, Curt Marvis, Les Garland, and G. Scott Paterson, all of whom have extensive histories in both traditional and digital media, The QYOU is headquartered in Dublin, Ireland.