September 16 2003
UK-based home entertainment company, Video Island , has closed a €3 million Series A financing round co-led by Benchmark Capital and Index Ventures . Founding investors and strategic partners include Simon Franks of Redbus , and Robin Klein , founder and Chairman of Retail Variations . The funding will be used for sales and marketing, business development and further investment in logistics and the DVD library.
Founded in 2002, Video Island is a highly personalized home entertainment subscription service, launching its full online DVD rental business in the next month. The company offers membership to the UK’s “ultimate DVD library”, with over 12,000 DVDs delivered directly to people’s doors.
Saul Klein , Co-founder and CEO, commented, “We established the Video Island proposition around the firm foundations of some of the UK’s most successful entertainment distribution and multi-channel retail entrepreneurs, as well as the most sophisticated technology platform in the marketplace. By now working with Index and Benchmark, we are delighted to have found two VCs who have pan European expertise, global reach and the experience of building some of the world’s most successful e-commerce businesses such as eBay and Betfair.”