MobiTV, a company that specializes in IP-based multiscreen video delivery, said it has landed a $21 million round of funding from Oak Investment Partners and Ally Corporate Finance.
MobiTV, which has raised about $180 million, said the funds will be used to accelerate and expand MobiTV Connect, an IP-powered, app-based platform that enables MVPDs to deliver services on a wide range of smartphones, tablets and TV-connected streaming devices and sidestep having to use traditional set-top boxes.
MobiTV cut its teeth on mobile video for partners such as AT&T, Sprint and T-Mobile and with several international partners but has been expanding into in-home pay-TV services using MobiTV Connect and now works with several U.S.-based service providers that include C Spire, DirectLink (formerly Canby Telcom) and Citizens Fiber.
MobiTV said its platform, which includes a customizable cloud-based user interface, complies with Title IX rules for pay TV, including support for ratings, content protection, and closed captioning.
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(Photo via 401(K) 2012's Flickr. Image taken on Feb. 21, 2017 and used per Creative Commons 2.0 license. The photo was cropped to fit 9x16 aspect ratio.)