Aereo announced late yesterday that it has raised $34 million in Series C financing. Adding to the $20.5 million in its Series A and $38 million in its Series B, Aereo has now raised a total of $92.5 million. The new funding will support Aereo's ongoing regional rollouts, plus new hiring and technology. Of note, the new financing includes Gordon Crawford, a well-known media investor, whose involvement certainly gives Aereo further credibility.
Aereo is currently live in 10 markets, and said yesterday it plans to be live in 15 by the end of Q1. That's a downward revision from its expansion plan announced a year ago, which was to be in 22 cities by the end of 2013. Last September Aereo announced technical issues delayed its Chicago launch and hasn't updated when that area will go live.
In 2013 Aereo continued its success in the courts, where the big broadcasters are fighting tooth-and-nail to prevent Aereo from rolling out, which would pose a huge threat to their retransmission consent revenue streams. Last month Aereo said that it would not oppose broadcasters' petition for a Supreme Court review, which, if favorable to Aereo, would potentially clear the path for a nationwide rollout.