Aereo has secured $34 million in new financing, the company said Tuesday, days before the Supreme Court will consider whether to hear networks’ lawsuit against it.
Company CEO and founder Chet Kanojia will formally announce Wednesday that the company has closed a round of financing that will support Aereo’s nationwide expansion, hiring, and new technology. Aereo’s chief backer, Barry Diller’s IAC, was joined in the latest round by Gordon Crawford and Himalaya Capital Management, as well as previous investors Highland Capital Partners and FirstMark Capital.
Also read: Supreme Court May Decide Jan. 10 Whether to Hear Aereo Case
Crawford, a media and entertainment industry veteran, worked at Capital Research and Management for 41 years.