African Video-on-Demand (VOD) platform, iROKOtv, has raised a further USD 8 million in funding from Tiger Global, Sweden-based Kinnevik and a new investor, US-based Rise Capital, bringing the total raised so far to USD 21 million. The company, which focuses on delivering Nigerian content across the globe, will continue to focus its attention on growing traffic, content curation and building a platform-agnostic distribution system for its 1 million monthly users.
“The USD 8 million raised will further fuel our expansion and help us to realise our long term goal of becoming one of Africa’s preeminent media companies,” says Jason Njoku, CEO and co-founder of iROKOtv. The VOD platform is watched in over 178 countries around the world with over 50% of its audience located in the UK and US alone.
iROKOtv, which started three years ago as a Nollywood content aggregator on a YouTube channel, today holds the world’s largest online catalogue of African content, with over 5,000 movies.