Clearleap, a company that delivers video from a range of different sources to your living room television screen, announced today that it pulled in $3.3 million in debt financing from Silicon Valley Bank. These funds follow hot on the heels of a $9 million first round kicked in by Trinity Ventures and Noro-Moseley Partners.
The young Atlanta-based company hopes to use set-top boxes and partnerships with TV service providers to bring online content to television sets. It has yet to disclose more specifics, but the idea is to give viewers an infinite selection of videos to choose from, culled from the Intenet, local and national stations, and even user-generated sources.
As VentureBeat reported previously, the company benefits from the experience of high profile founders in the video space. But it might still behoove Clearleap to watch out for competitors Tandberg Television and TVN Entertainment, both of which are developing products for on-demand video distribution to TV as well.
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