Flipps raises $2.4 million to grow
May 4, 2014 16.19 Europe/London By Robert Briel
Flipps on AndroidFlipps, the app to stream video from mobile devices to a TV set, raises $2.4 million from Earlybird Venture Capital and existing investors including Tim Draper.
Flipps will use the investment to build on its growing business in the US and Europe while expanding its library of premium content. Flipps, formerly known as iMediaShare, is a mobile app for entertainment enthusiasts who want to discover and project content onto any connected TV using their mobile device (as a remote control) without any additional hardware or set up.
Flipps’ patented technology works with over 250 million connected TVs and is compatible with over 5,000 manufacturer models requiring no set up, no pairing of devices, no cables, no dongle and no set top box.
The Council for Research Excellence confirms that TV is still the primary viewing platform with 84% of viewing hours. Additionally, Nielson cites that searching for and viewing online entertainment on a mobile device continues to accelerate rapidly with the latest year-over-year increase of 37%.
“With over 10 million downloads of its mobile app, Flipps is successfully addressing both of these trends by combining the richness of TV viewing with easy content discovery on a mobile device,” the company said in a statement.
Flipps selected publishers can now expand their reach across hundreds of millions of TVs worldwide without the need to develop proprietary apps or specialised software to accommodate thousands of different TV models.
“Flipps helps content owners save tremendous resources because integration onto the Flipps video adaptive platform is effortless and scalable,” according to Dan Lupu from Earlybird Venture Capital. “With our investment, Flipps accelerates its incredible growth and will finalize more deals with forward thinking publishers eager to reach new audiences.” The Flipps distribution channel also offers flexible monetization solutions in the form of advertising and subscription models.
Famed Silicon Valley investor Tim Draper added, “Flipps has created a scalable new TV distribution channel. It is an elegant user experience where TV goes mobile – wherever your mobile device goes so goes your TV. Flipps is turning an entire industry on its head.”