Tvinci, the leading Pay-Over-the-Top (OTT) TV Platform provider, based out of Israel, today announced a $4.5 million round of funding. The company, which formed in 2007 to advance the technology and experience of OTT TV, provides a while label solution for the streaming of video into any device. Think of it as something like a white label Netflix.
According to a press release, “The round was led by the company’s existing investors, Kaedan Capital and Zohar Gilon, and new investor Trellas Enterprises.”
“The investment follows the most successful year to date in Tvinci’s five year history. The company has seen revenues double every year since 2008, and triple in 2012 compared to 2011. It has secured 7 new TV operators as customers, including Liberty Global, owner of multiple cable operators throughout Europe; Elisa, Finland’s second largest telco operator; and other major media companies and operators in Europe and Asia, to be announced in the coming months.”
Ofer Shayo, CEO of Tvinci, says, “Five years ago we began to advocate cross-device Pay-OTT TV as the future of video delivery for both TV operators and industry newcomers, and we are now truly seeing its widespread adoption. We now see a ‘second wave’ of OTT deployments – cable, satellite and telco TV operators that launched multiple video apps and websites over the past 3-4 years, not incorporating OTT video as part of their core TV offering, and looking to do more than just stream content to connected devices. Our OTT 2.0 platform answers this immediate need not only for a new delivery method to connected devices but also a brand new TV experience.”
Ido Wiesenberg, VP Business Development and Co-founder at Tvinci, told me via phone that the company will be using the latest $4.5 million investment to continue to innovate the produce and its focus on social and personalized television. He said, “We’ll also put more effort on opening new markets. We’ve already signed a deal in the Asia-Pacific market and we’re going to explore additional markets as well.”
According to the latest comScore Video Metrix report, consumption of streaming video content is at an all-time high, with 188 million US Internet users watching 37.7 billion online content videos. At the same time, OTT TV is becoming a more and more popular way for viewers to access this content, streaming and consuming content across a variety of devices. Check out the video below to find out more about how Tvinci is tapping into this market and let us know what you think.
Megan O’Neill is the resident web video enthusiast here at Social Times. Megan covers everything from the latest viral videos to online video news and tips, and has a passion for bizarre, original and revolutionary content and ideas.