UK-based preschool SVOD Hopster has completed a new multi-million-dollar funding round led by its minority stakeholder, Sony Pictures Television Networks (SPTN).
The funds, which will help the app continue to offer an ad-free digital environment for preschoolers, was also supported by existing Hopster investors VentureFounders and the Angel CoFund.
For SPTN, the investment complements its growing kids portfolio, especially in the UK where its current linear and digital brands include POP, Tiny Pop, POP MAX and recently launched AVOD service POP FUN. SPTN (a division of Sony Corp.) acquired a minority stake in Hopster in October 2016 and holds a seat on the company’s board. Sony’s initial round was made in association with Hopster’s largest existing investor, Sandbox Partners, and was used to expand the SVOD’s operations and drive further content and marketing growth.
Since launching in 2013, the Hopster app has been downloaded more than two million times on connected TVs, mobile devices and tablets.
SPTN’s latest investment follows a year of significant growth for Hopster, which recently struck a distribution deal with Amazon Prime Channels and appointed Aardman to distribute its original content worldwide.