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Streaming media company Plex raises $40M as it nears profitability

Media streamer Plex has raised new capital. The company, which began as a media organization startup, has morphed over the years to become a one-stop shop

While he joked that he likes to think of himself as a unicorn, Plex’s real-world valuation is unknown as the company hasn’t raised outside funds in some time, preferring instead to work with its existing set of investors. Another planned feature, announced at CES, is the forthcoming launch of Plex’s TVOD marketplace — an online storefront that will allow users to rent shows and movies from top studios. As a result of Plex’s ability to track users’ media discovery behavior and consumption across platforms and services, the company has a unique perspective from a data standpoint.

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