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MobiTV has raised $21 million in funding so it can deliver pay TV services using next-generation internet protocol (IP) video delivery technology.
The Emeryville, California-based company raised the money from Oak Investment Partners and Ally Corporate Finance. The funding will accelerate expansion of the MobiTV Connect software platform to enable IP delivery for pay TV providers.
Cable and broadband operators need to transition their pay TV offerings to IP-based solutions in order to deliver more channels in a cost-efficient manner.
“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 set-top box ecosystem,” said Charlie Nooney, CEO of MobiTV, in a statement. “Our ability to utilize widely adopted streaming devices allows real time enablement of new technologies across all screens without the high cost of replacing legacy set-top boxes in the home.”
MobiTV will help deliver TV formats and features such as 4K/HEVC, cloud DVR, replay TV, and responsive voice control. And it can deliver services into the home without a set-top box.
MobiTV powers the Reliance live service in India. Since the launch of the mobile provider Reliance Jio in September 2016, the live service has supported over 95 million unique users and added as many as one million users per day. This service includes rich features like cloud DVR, seven-day catch-up, and 400 live channels with support for massive 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, in a statement.
MobiTV provides customizable, cloud-based, end-to-end streaming video solutions to providers worldwide, allowing them to offer a cost-efficient, high-quality video experience across multiple devices. The company was founded 17 years ago.
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