Silicon Valley based Meevee has raised an additional round of financing of at least $8 million, a source close to the company told us today. The lead investor is the JP Morgan affiliated fund, Bay Area Equity Fund. No word on valuation or if the fund’s previous investors also participated.
Meevee is an interactive television guide with some original content directly linked. See our post Overview: The End of Paper TV Guides for a quick summary of their business and how they compare to competitors.
The size of the round is notable given the relatively sparse capital needs of a startup like Meevee. This tells me they may be looking to use some of the cash, or their newly valued stock, in an upcoming acquisition spree. As noted in our post above, there are a lot of competitors in this space, and it needs to be consolidated. In my opinion, a merger with MobiTV, discussed in this post, would be an ideal combination of content and guide.