IP-based content management and distribution platform Clearleap has raised $4.5 million in new funding which it says it will use in furthering the development of cable companies and IPTV providers to stream video content to Internet-connected set-top boxes (STBs) and connected TV services.
Following an analysts’ call, Clearleap revealed that it has tapped the extra fund from existing investors Noro-Mosely Partners, Trinity Ventures and Silicon Valley Bank so that it can hone the capabilities of its Stream On Demand product which is seeing increasing use by US pay-TV providers in enabling OTT services to complement cable TV and VOD offerings.
Clearleap’s strategy is to present to cablecos that OTT should be seen as an opportunity as much as a threat to revenue streams. In June 2010 it announced a partnership with digital TV player firm Roku so that incumbent pay-TV providers could deliver premium content, including their own VOD libraries, plus supplemental online video, to their customers via Roku boxes.
Indeed in the analysts’ call Clearleap CEO Braxton Jarratt was quoted as making particular reference to the way in which service providers were becoming increasingly interested in using Stream On Demand to achieve such aims and eventually allow them to offer vide services in geographic areas in which cable networks do not pass homes.