MobiTV announces $21M in additional fundingTuesday, February 21st, 2017
MobiTV Announces $21M in Funding to Accelerate Growth in Next-Gen IP-based Video Delivery Solutions
- Company Aimed at Future-Proofing Pay TV Service Offerings by Allowing Providers to Deliver Content to Subscribers on Any Screen, Without a Set-Top Box
EMERYVILLE, CA — MobiTV, the leader in IP-based video delivery solutions, today announced it has closed $21M in funding from Oak Investment Partners and Ally Corporate Finance. The funding will accelerate expansion of the MobiTV Connect™ Platform to enable IP delivery for Pay TV providers.
Given the rapidly changing technological revolution in video, MobiTV’s leading edge software-based solution is available now to address cable and broadband operators need to transition their Pay TV offerings to IP-based solutions.
“We’re able to future proof the service providers’ Pay TV offerings through state of the art features and rich user experiences that are not constrained by the legacy STB ecosystem,” said Charlie Nooney, CEO of MobiTV. “Our ability to utilize widely adopted streaming devices allows real time enablement of new technologies like 4K/HEVC, Cloud DVR, replay TV, robust voice control, and other consumer preferences across all screens without the high cost of replacing legacy QAM STBs in the home.”
The ability to scale are further demonstrated in the MobiTV powered Reliance live service in India. Since the launch of Jio in September 2016, the live service has supported over 95 million unique users and has added as much as one million users per day. This service includes rich features like Cloud DVR, 7-day catchup, 400 live channels with support of massive scale live events.
Companies like C Spire, DirectLink and Citizens Fiber have signed on to use the MobiTV Connect™ Platform in their move to IP delivery. “Our multi-tenant solution can be deployed through either a managed service or in-network offering, allowing us to address all operators of all sizes in a cost effective manner,” said Bill Routt, COO of MobiTV.
MobiTV is currently exhibiting at NCTC’s Winter Educational Conference in New Orleans at booth 602. The company will demonstrate the MobiTV Connect™ Platform’s latest capabilities and Product Forum demonstration.