MobiTV is an early mover that repurposed its mobile-TV technology into a set-top-box-free IPTV platform, launching the current platform in 2016 after a pivot. The company offers MobiTV Connect, which provides access to about 350 channels (including A+E Networks, AMC Networks, Crown Media, C-SPAN, Disney, ESPN, SHOWTIME and Viacom) delivered to smart TVs and streaming devices like Fire TV, Roku and Apple TV. MobiTV has commercial deals with roughly 90 cable and other TV operators, covering about 2 million people, and can be deployed alongside or in place of traditional set-top boxes. The product pitch centers on lowering total cost of ownership for operators and offering flexibility to add channels via apps rather than hardware. Management says the company is expanding internationally and using the new capital to continue building momentum. Financially, MobiTV has raised a new $50 million growth round and previously raised $21 million in 2017 during its late-stage pivot. MobiTV offers the MobiTV Connect platform to enable pay-TV and on-demand providers to stream broadcast TV, deliver catch-up and recording, and eliminate the need for set-top boxes. The platform can be embedded into devices like Amazon Fire TV and Apple TV to add live TV services. The company has been pivoting from its original mobile-TV roots toward living-room IPTV and has signed deals with C Spire, DirectLink and Citizens Fiber. It has also tested the service with Reliance Jio in India, delivering 350 live channels, seven-day catch-up and DVR features. MobiTV plans to use the new funding for further product development, marketing and additional sales hires, and may consider a name change to reflect the shift. Historically cash-flow positive, the company has temporarily dipped out of that position while pursuing growth and is not disclosing valuation (sources say it is under $500M). MobiTV operates a platform that delivers television to mobile phones and offers a PC product that provides 24 channels when accessed from an AT&T Wi‑Fi hotspot. The company is described as having an existing, battle‑tested platform with distribution deals and relationships that could be a competitive advantage. The reporting says MobiTV recently raised another $30M, adding to about $70M in prior financings for roughly $100M in total capital raised. Journalists have questioned why the company needs that level of funding given its current mobile‑focused audience. The article suggests the company could expand beyond the mobile niche by negotiating with cable companies and networks to allow viewing from any broadband connection and on normal televisions, PCs, and mobile devices. It also speculates the funds might be used to secure partnerships or pay incumbents (potentially via stock), likening the approach to tactics used by Netflix and YouTube, and notes there may be a major announcement forthcoming.

Total raised

$101M

Funding rounds

3

Latest round

Equity

Latest activity

Jul 2019