Tvinci gains $4.5M investment to drive OTT momentum
Editor | 16-10-2012
Capping what the company claims has been a “hugely successful” 2012, pay-OTT provider Tvinci has received a $4.5 million round of funding that will be invested in over the top platform development and international expansion.
The investment—led by the company's existing investors, Kaedan Capital and Zohar Gilon, and new investor Trellas Enterprises—comes as the company reports the best ever results in its five-year history which has seen revenues double every year since 2008, and triple in 2012 compared with 2011. In the last twelve months, Tvinci has doubled in size and has secured seven new TV operators as customers for its white-label OTT solutions, including Liberty Global, Finnish telco Elisa and other media companies and operators in Europe and Asia.
“Five years ago we began to advocate cross-device [OTT pay-TV] as the future of video delivery for both TV operators and industry newcomers, and we are now truly seeing its widespread adoption,” commented Ofer Shayo, CEO, Tvinci. “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, now 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. This momentum powered our success this year, and has put us in a position to explore opportunities in wider global territories. With an established footprint in Europe, we are now gaining traction in Asia, Latin America and the US, and see these markets as huge potential addressable markets.”