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| Jason Njoku and Bastian Gotter of iROKO |
It can be said that it is one of the most well funded internet startups in Africa and so it is. Co-Founder and CEO, Jason Njoku has just announced that his company, iROKO has again raised another $8 million from existing investors Tiger Global, Kinnevik and new participant, Rise Capital. As he said in his post, this brings the total raised over the last two years to $21 million. This altogether shows the continued confidence in the company that has created a new market where nobody thought there was a market.
Jason claims that this new funding will allow his company the financial levity to make more strategic, longer, customer focused improvements to iROKOtv FREE/PLUS and the Video-On-Demand marketplace at large.
He alludes to the fact that iROKO has demonstrated its ability to enable seasoned VC’s to keep funding the company.
According to Jason, We are no longer a scrappy startup. In fact the word monopoly is usually mentioned when online and iROKO comes into debate. We now generate millions of dollars in revenue annually and have a global team of 68 people. With offices in Lagos, London, NYC and JoBurg scrappy doesn’t come to mind. Nonetheless we have a once in a lifetime opportunity to build a true giant of an African media company. With the fresh funding and the wind at our backs. It is our ball to drop.
