MUBI, the unique online cinema platform for cinephiles, raises $7.5 million in series D funding from an eclectic group of individual investors and VCs which included characters such as Boris Johnson, the Mayor of London.
Other contributors to the funding round include Can Serter, Cem Tufekci, Umur Ozal, Martin Varsavsky, Eric Fellner of Working Title Films and a fund MMC Ventures launched together with Johnson, Simon Patterson and Joe Osnoss, the co-head of Silver Lake Partners in Europe.
This last round grew total investor funding in the company to 12 $million. The company says its Android version will arrive this quarter.
Efe Çakarel, the founder of MUBI, told Webrazzi that the total number of registered users has gone over 7 million as of today, generating a top line that grows 3% eveyr week. Çakarel said the new funding will allow them invest in their continued growth, quietly building one of the most significant distribution platforms in the world for classic and festival movies of any genre and nationality.
Headquartered in Palo Alto, MUBI reaches a global audience with a substantial part represented by Europe. It has 50 employees and offices in London, Istanbul and Munich. Founded in 2007 by Efe Cakarel, with the name ‘The Auteurs’, as a social network for cinephiles, MUBI adopted its present name in 2010 wilst simultaneously launching a video-on-demand service and announcing a partnership with Sony to create an app for Playstation Network and Sony Bravia connected televisions.
Having The Criterion Collection (whose website MUBI designed and managed), the European distributor Celluloid Dreams and Martin Scorsese‘s World Cinema Foundation among its shareholders and supporters, MUBI offers a rich selection of auteur cinema from all around the world for a stunningly low monthly subscription close to $5 a month.
Apart from the intellectual appeal of the platform, MUBI also distinguishes itself by the unique, highly curated VOD model. The collection is curated by an in-house team of expert film programmers and is updated with a new film every single day while dropping the oldest one from the monthly list of 30.
The subscription service is currently deployed in 12 countries, all localized for the market and at an average price of $4.99 per month. MUBI is available on the web, iPhone, iPad, Samsung TVs, Sony TVs and PlayStation 3.