L.A.-based online video aggregator Pluto TV announced on Thursday that it has closed a $13 million Series A financing led by U.S. Venture Partners (USVP), with participation from talent agency UTA and existing investors Sky, Chicago Ventures, Great Oaks Venture Capital and Luminari Capital.
Pluto TV launched in April as a TV-like streaming video platform in that it schedules programming to run on channels dedicated to specific topics. The company plans to use the cash to continue growing its platform and to broaden its content offering and distribution.
“With the explosion of premium content available on the web and consumers increasingly watching video across various devices, Pluto is poised to be the top destination for viewers looking for the best programming in one place,” said Rick Lewis, general partner at USVP, in a statement.
The financing round comes after previous investments from Universal Music Group, Terry Semel’s Windsor Media, Pritzker Group and numerous angel investors. Last month Sky invested $500,000 into Pluto.
The company also announced on Thursday that Ross Levinsohn (former CEO of Yahoo and executive chairman of Scout), Ken Parks (chief content officer, Spotify) and Stephane Kurgan (COO, King Digital Entertainment) have joined the company as advisors.