Philo Raises $10 Million From NEA, HBO & Others For Its On-Campus Internet TV Service

TechCrunch

The way people watch TV in a multi-device world is changing, which has led a number of consumers – especially among the younger demographic – to cut the cord with traditional pay TV, or just never sign up in the first place. Philo is a startup that’s helping cable and satellite TV providers re-engage this audience at the university level with a live TV service offering search, sharing and a network-based DVR. The company has now raised an additional $10 million in Series B funding to continue to grow its business.

The funding was led by Philo’s Series A investor NEA and includes participation from a small broadcast affiliate CBC New Media Group of Raleigh, NC; HBO; Rho Ventures; XFUND; and Philo’s CEO Andrew McCollum. The service is one of the first startups to receive an investment from HBO, which also previously invested in an early round.

An early Facebook employee, McCollum first came across…

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