Milyoni, which focuses on turning Facebook users into customers with its social entertainment products, today announced it has secured $11 million in Series B financing led by Oak Investment Partners. Existing investors ATA Ventures and Thomvest Ventures also participated.
The company will use the funding to open offices in Los Angeles and New York City, expanding its U.S. presence and enabling it to extend its portfolio of Facebook-based experiences.
Milyoni’s clients include Universal Pictures, Lionsgate, Paramount Studios, Big Air Studios, Austin City Limits Live, Turner Broadcasting, University of Oklahoma and the NBA.
John Corpus, Milyoni founder and CEO, said Facebook is the “go-to platform” for content discovery and consumption. “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,” he said. “The way we see it, we’re only in the first of a nine inning game.”
Milyoni’s products include Social Cinema and Social Live, which enable fans on Facebook to view, like and comment during particular points within a movie, TV show, sporting event or concert and chat with friends while watching.
Fred Harman, managing partner at Oak Investment Partners: “Oak Investment Partners is excited to join the Milyoni team to further extend their stronghold in the social entertainment arena. 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 company forward.”
Hatch Graham, managing director, ATA Ventures: “We’ve believed in Milyoni from the beginning and have seen the company’s growth mirror that of the entertainment industry’s needs. 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.”
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