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Mubi has raised a new $5.1 million investment for its social networking service for film lovers, according to a SEC document filed last week.
Mubi is one of the more interesting streaming video services to emerge in what’s becoming a very crowded market. The startup puts together a team of people who will select a single classic or independent film per day, which Mubi enriches with its own take, trailer, and more. The goal is to evoke conversation among film lovers because half the experience comes from dissecting a great work. The startup makes money by charging for access, with fees starting at $5 per month.
It’s definitely an interesting take on a streaming video service because rather than a offer a massive library of content, it opts for hyper-focused curation (about 30 films per month).
The $5.1 million investment is part of a larger $7 million round, according to the SEC doc, with the first investment happening Oct. 11. However, the doc doesn’t disclose who’s participating in the round. We’re reaching out to Mubi for more details about the round and will update this post with any new information.
Founded in 2007, the Palo Alto, Calif.-based startup previously raised $3.15 million from Eduardo Costantini, Martin Varsavsky, Alec Oxenford, and other angel investors.