MobiTV, a company that specializes in IP-based multiscreen video delivery, said it has landed a $21 million round of funding from Oak Investment Partners and Ally Corporate Finance.
MobiTV, which has raised about $180 million, said the funds will be used to accelerate and expand MobiTV Connect, an IP-powered, app-based platform that enables MVPDs to deliver services on a wide range of smartphones, tablets and TV-connected streaming devices and sidestep having to use traditional set-top boxes.
MobiTV cut its teeth on mobile video for partners such as AT&T, Sprint and T-Mobile and with several international partners, but has been expanding into in-home pay TV services using MobiTV Connect, and now works with several U.S.-based service providers that include C Spire, DirectLink (formerly Canby Telcom) and Citizens Fiber.
MobiTV said its platform, which includes a customizable cloud-based user interface, complies with Title VI rules for pay TV, including support for ratings, content protection, and closed captioning.
“We have a lot of traction for this solution,” Charlie Nooney, CEO of MobiTV, said. “We’re trying to hit the North American market really hard. The next 18 months will be critical in this space.”
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In North America, MobiTV’s sweet spot will be small- and mid-sized operators, Nooney said, noting that his company is engaged with the National Cable Television Cooperative, a group that strikes programming and technology deals for an array of independent service providers.
MobiTV is demonstrating its Connect platform at this week’s NCTC Winter Educational Conference New Orleans.
More about MobiTV’s approach and the heated competition it is facing in the MVPD sector will be featured in the Next TV section of the Feb. 27 edition of Multichannel News.