Calgary-based A Parent Media Co. (APMC) has completed an angel round of financing for its children’s video-on-demand service, Kidoodle.TV.
The cumulative amount raised to date is CAD$10 million, with the majority coming in this year. This financing was led by a personal multimillion-dollar investment by Tom Crist, former CEO of Canadian wholesale electricity company EECOL Electric. In May 2013, Crist won a CAD$40-million lotto jackpot, which he has pledged to give to charity via his Crist Family Foundation.
APMC will use the funds for product/platform development, marketing, content acquisitions and general operating costs for the Kidoodle.TV service.
Available in the US and Canada, Kidoodle.TV is a CAD$4.99/month SVOD service for children 12 and under, with no commercials and robust parental controls. It carries such shows as Caillou, Inspector Gadget, My Little Pony, Super Why and Strawberry Shortcake.
Early next year, APMC will be approaching investors for a round of Series A financing to further grow and develop the streaming service.
The angel round is technically APMC’s second round, which was opened up to accredited investors. The initial funding round was for founders, friends and family.
The company would not comment on valuation.
From Stream Daily