Streaming media company Plex raises $40M as it nears profitability

Media streamer Plex has raised new capital. The company, which began as a media organization startup, has morphed over the years to become a one-stop shop for all your media, including ad-supported streaming, which now accounts for much of its revenue growth. The new round, which has not yet been disclosed, was initially said to be larger than Plex’s $50 million growth round closed a few years ago, but we now understand it’s $40 million, a rep for Plex has confirmed. The funds will help fuel the company’s push toward profitability, expected by year-end or just after.

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