Telly raises $8M, buys Sha-Sha Entertainment

Cinemagic, Lumia Capital invest as Telly sets sights on 22 countries

Telly, a social discovery platform for movies and shows on mobile and PCs, announced Thursday that it's acquired Sha-Sha Entertainment to bring Hollywood and Arabic movies and shows to 22 countries.

At the same time, the company said it's raised $8 million in a Series B financing, from Cinemagic, Lumia Capital, and existing investors Azure Capital, Draper Fisher Jurvetson, Felicis Ventures and Georges Harik. The new round of financing brings the total raise to $21 million to date.

More to come.