FilmRise Secures $50 Million in New Financing
Arena Investors led the investor group backing the indie film and TV distributor.
FilmRise — the film and TV distribution company founded by veteran producer/financiers Danny Fisher, Jack Fisher and Alan Klingenstein in 2010 — on Wednesday announced that it has raised an additional $50 million in financing, bringing the capital it has raised to date for the acquisition of film and TV titles to $110 million.
Arena Investors led the investor group behind the newest round of financing. The deal was negotiated by FilmRise CEO Fisher and CFO Goetz Grossman and Arena Investors managing director John Eck.
“We are thrilled to continue our aggressive acquisition strategy through our relationship with Arena Investors, who share our innovative understanding of the evolving film and TV business,” Fisher said in making the announcement.
FilmRise’s recent theatrical releases include Marjorie Prime, starring Jon Hamm, Geena Davis, Tim Robbins and Lois Smith, and Manifesto, starring Cate Blanchett in 13 distinct roles. It is set to release the buzzed-about My Friend Dahmer, starring Ross Lynch and based on the best-selling graphic novel, on Nov. 3.
This year, FilmRise also licensed the distribution rights to six TV series from Carsey-Werner, including Roseanne and 3rd Rock From the Sun, and recently announced its partnership with Amazon to make these shows available exclusively on Prime Video.
"FilmRise has helped to redefine the digital landscape by embracing the way programming — film and television — is being delivered to audiences today," said Daniel B. Zwirn, CEO of Arena Investors. "We are impressed by the cutting-edge and expansive distribution partnerships with industry leaders, and we're thrilled to support them as they continue to grow."