IP video specialist MobiTV has closed US$21 million (€20 million) in funding from Oak Investment Partners and Ally Corporate Finance. According to the company, the funding will accelerate expansion of the MobiTV Connect platform to enable app-based IP delivery for pay TV providers.
MobiTV’s software-based technology is designed to address cable and broadband operators’ need to transition their pay TV offerings to IP-based technology and to deliver services via consumer devices rather than by deploying set-top boxes.
MobiTV provides technology to customers including the Reliance live service, Jio, in India. This service includes features such as cloud DVR, seven-day catch-up and 400 live channels with support for large-scale live events. Other customers include C Spire, DirectLink and Citizens Fiber in the US.
“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 STB ecosystem. Our ability to utilize widely adopted streaming devices allows real time enablement of new technologies like 4K/HEVC, Cloud DVR, replay TV, robust voice control, and other consumer preferences across all screens without the high cost of replacing legacy QAM STBs in the home,” said Charlie Nooney, CEO of MobiTV.