IP-based video delivery solutions specialist MobiTV has closed $21 million (€19.91m) in funding from Oak Investment Partners and Ally Corporate Finance. The funding will accelerate the expansion of the MobiTV Connect Platform to enable IP delivery for pay-TV providers.
“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 utilise 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.”
Companies such as 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,” explained Bill Routt, COO of MobiTV.