Angel round for ScreenHits as it builds on new distribution deals with global networks

Content acquisition platform ScreenHits has utilised government investment tax incentives to raise $1.2 million of funding to aid growth.

Having secured distribution deals with the likes of Caracol, Hasbro and TVF, ScreenHits has attracted the interest of angel investors Rory Fleming, Lord Reay and Flemming Lund.

Founded in London during 2013 by American entrepreneur Rose Adkins, ScreenHits serves as a platform for the acquisition and distribution for the television, digital broadcast and filmed entertainment markets.

The $1.2 million (£720,000) received by ScreenHits and Adkins will be used to expand back-end technologies and drive new business development alongside audience acquisition.

Speaking to GrowthBusiness in July 2013 as part of a video interview, Adkins revealed that the inspiration for the business came from when she produced TV shows and films earlier in her career and found that there was no platform available to facilitate the distribution of content.

Commenting on the new funding deal, Adkins says that UK Trade & Investment (UKTI) has helped the business launch in the UK and then secure capital.

‘Without their support and guidance during the infancy stages of ScreenHits, funding would not have been possible,’ she adds.

‘The additional support from the UK government with the creation of tax schemes, such as SEIS [Seed Enterprise Investment Scheme] and EIS [Enterprise Investment Scheme], has made the initial seed round extremely possible in setting up and launching a business in the UK.’

New backer Rory Fleming believes that ScreenHits is a ‘unique investment’ due to its bringing together of the best of consumer online video platforms with global content distribution on a business-to-business side.

Alongside its acquisition and distribution services, ScreenHits also provides a way for broadcasters to gather input and feedback from audiences. The business says that it has signed a number of new distribution deals in recent weeks, such as Venezuelan network Venevision and NBCUniversal-owned Telemundo.

UKTI vice consul Richard Powell says, ‘Connecting with Rose Adkins at the beginning stages of setting up the London office, we were able to provide strategic introductions to key industry players, as well as on-the-ground support in terms of logistics around company information, accounting, tax, and office space.

‘This kind of investment highlights the very current convergence of creativity and technology, and ultimately stimulates the UK’s creative sector, showcasing the country as a world destination for innovation, technology funding and R&D.’

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

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