MobiTV Secures $50 Million in Venture Funding

MobiTV, a platform offering pay-TV operators over-the-top video distribution across myriad platforms, July 1 announced it has closed more than $50 million in funding from three investment funds.

Based in Emeryville, Calif., MobiTV enables third-party pay-TV operators to offer subscribers on-demand programming, live TV, catch-up TV, network DVR and content recommendations without the need of a set-top box.

Investors include Oak Investment Partners, Ally Financial, and Cedar Grove Partners. The funding will be used to accelerate the growth of MobiTV’s international footprint.

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“We believe in MobiTV’s superior consumer experience and know that being the only true commercially deployed solution in North America has differentiated their positioning in the marketplace,” Bandel Carano, managing partner, Oak Investment Partners, said in a statement.

MobiTV’s “multi-tenant solution” can be deployed through either a managed service or in-network offering, enabling it to address operators of all sizes, in a cost-effective manner.

Third-party clients include Citizens Fiber, Windstream and EPB with access to more than 350 networks, including A+E Networks, AMC Networks, Crown Media Family Networks, C-SPAN Networks, Disney and ESPN Media Networks, Showtime and Viacom, among others.

“We’re equally proud to have a nod from the National Cable Television Cooperative, as they selected MobiTV as a premiere partner for app-based pay-TV video solutions,” said MobiTV chairman/CEO Charlie Nooney. “We continue to demonstrate our ground-breaking approach to addressing operator challenges as they upgrade their pay-TV offering in an increasingly competitive marketplace.”