An emerging player in the realm of IP-based video delivery solutions has closed $21 million in funding from Oak Investment Partners and Ally Corporate Finance — a move that the company says will accelerate the expansion of a platform that enables IP delivery for pay-TV providers.
MobiTV is the recipient of the dollars, and CEO Charlie Nooney believes his company’s software-based solution presents an opportunity for smaller MVPDs to provide the same level of digital delivery as the nation’s top systems.
“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,” said Nooney. “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.”
Companies like C Spire, DirectLink and Citizens Fiber have already signed on to use the company’s MobiTV Connect Platform.