Social video discovery platform Chill has secured $8 million in a round led by Kleiner Perkins Caufield & Byers and William Morris Endeavor, with participation from Atlas Venture and Chris Sacca’s Lowercase Capital.
The company said it will use the investment to develop its product and expand its distribution. It now has over 18 million registered users
This brings Chill’s total investment to $9.5 million. The seed funding came fromTroy Carter, 500 Startups, Science Media, Michael Arrington’s CrunchFund, Mike Jones and Redpoint Ventures.
Chill’s definition of social video has evolved during its short life. Initially it was a way to share videos in real time, an online version of inviting friends over to watch your collection. That initial social impulse has now matured into Chill being a video destination site to view socially recommended programming that features premium content from partners like TMZ, Jimmy Kimmel Live and Puma in addition to directly shared videos.
“The way people consume entertainment is radically shifting,” said Brian Norgard, Chill founder. “Old technologies are giving way to a more social and personalized world where people can enjoy the best content anywhere and at any time. This is much like the early 1950s in the television industry; the only difference is now we can impact billions of customers instead of millions.”
Chill – http://www.Chill.com
Chill – press release
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