The company, based in Baltimore, Maryland, hopes to produce “the best in professionally produced, branded programming.” As the site is not yet live, it’s hard to know how the content will compare to that of their rival’s, but their emphasis is to combine free and instant access to shows that still have a professional feel to them.
The service will run through the web browser and won’t require any additional application downloads. This immediately makes it more attractive to many users than other online video startups such as Joost (our coverage), which can only be viewed through its stand-alone application.
Another player in the professionally-produced online video arena is Deca (our coverage). However Deca works with several other sites to produce content rather than having its own main hub, which TidalTV will have. The larger sites such as YouTube rely on user-generated content over professionally-produced originals.
The company has pledge to use this funding to expand the programming that will be available. The company also plans to further develop it’s platform before launch.
The $15 million funding was led by New Enterprise Associates and Valhalla Partners. The seed funding was provided by co-founder of AOL’s Advertising.com and current TidalTV chairman, Scott Ferber.