The company raised $50 million of Series C venture funding led by AMC Networks, Discovery and Viacom on July 10, 2018, putting the company's pre-money valuation at $125 million. A+E Networks, CBC New Media, NEA, Rho Ventures and Xfund also participated in the round. The company will use the funding for marketing and to invest in building new product features. For example, Philo is developing new social-TV experiences for subscribers to interact with friends on the service. The funding brings Philo to more than $90 million raised to date.