Oak Investment Partners and Ally Corporate Finance have made a $21 million bet on IP-based video delivery solutions provider MobiTV.
After forging a reputation in the nascent mobile TV industry almost a decade ago, MobiTV evolved to help pay-TV providers expand their services beyond the traditional set-top box. Its Connect Platform is designed to be able to allow cable and broadband operators to upgrade their user experience to address the need to transition their pay-TV offerings to IP-based solutions.
The funding will see use in accelerating the expansion of the MobiTV Connect Platform to enable IP delivery for pay-TV providers. “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 Charlie Nooney, CEO of MobiTV.
“Our ability to use 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.”