Sezmi Raises $17.3 Million
Hybrid Broadcast-Internet TV Service Now Has Collected $92 Million In Funding
Todd Spangler -- Multichannel News, 9/18/2010 10:26:27 AM
Sezmi, the startup marketing a hybrid broadcast-Internet TV service as a cheap replacement to cable and satellite TV in more than three dozen U.S. markets, has raised an additional $17.3 million in funding according to a filing Thursday with the Securities and Exchange Commission.
Sezmi now has raised more than $92 million in funding to date. The company did not disclose the identity of the two investors in the filing. Previous investors include Morgenthaler Ventures, OmniCapital Group, Index Ventures, TD Fund, Legend Ventures and Advanced Equities.
In August, Sezmi (pronounced "SAYS-me") expanded its entry-level service, Sezmi Select, to 36 U.S. markets. The service, which does not include any cable networks, costs $4.99 per month for access to local broadcast channels, DVR features, and some VOD and Internet video content. The service also requires consumers to pay $150 for the Sezmi antenna and 1-Terabyte DVR; the hardware previously was $299.
For now, Sezmi offers the premium Select Plus service -- with 23 linear cable networks -- only in Los Angeles where it launched the service in February but eventually the company expects to roll out Select Plus in all markets.
Sezmi's system delivers TV programming and VOD using a combination of Internet bandwidth and multicast spectrum leased from local broadcasters. Customers must separately sign up for broadband service. The Belmont, Calif.-based company was founded in 2006 as "Building B."
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