Plex’s Latest Fundraising Drive Nets $40 Million From Investors

The platform expects to become profitable by the end of this year, or in early 2025.Plex was not immediately available for comment.This latest round of funding closed earlier this month. I feel like funding has never been a concern of ours.The funds will help Plex evolve its TV concierge services, which connects users with free movies and TV series and helps them discover new content through other streaming platforms.The company began as a software platform consumers could use to organize home media collections and has grown into a multimedia platform. Users can stream free ad-supported series, films, music, and live TV channels or watch their own media collections. Plex users can create a master list of all content they want to watch across any streaming platform, such as Prime Video, Max, and Paramount+, as well as upcoming theatrical releases for free.The most recent change coming to Plex is social features that let members opt-in to track their views, ratings, and recommendations and share them with friends. Theres no personally identifiable information being used And arguably, even though our current business is already growing 30-40% per year, that could dwarf in two to three years.Plex is a free service available to download from Google Play and Apple App Store, as well as smart TVs like Roku, Amazon Fire TV, and AppleTV.