24i secures funding for global OTT expansion

DetailsEditor | 10 April 2015

Leading European multiscreen TV everywhere provider 24i has finalised its first round of funding from Newion Investments, aiming to use the cash for global over-the-top (OTT) expansion.

24i has already built multiplatform TV apps in Europe for companies such as FOX Sports, Videoland, RTL, Pathé and HBO. Initially beginning life as a smart TV software provider, 24i addresses the production chain with solutions ranging from content monetisation strategies to DRM, and now provides a host of multiscreen solutions across a variety of connected devices.

The deal for the Amsterdam-based TV applications company includes Dutch governmental guarantees on loans for innovation, and the new funding will be instrumental in helping the company expand in the US in particular.

Commenting on what it could do for the company, CEO Martijn Van Horssen said: "This will help us to grow internally and meet the demand of new partners internationally, as well as continue to provide the best service possible to our long list of current partners ... No matter where viewers are watching, 24i is ready with the best solution for that screen, whether it belongs to a mobile device or a set-top box monitor."

Offering his support, Newion partner Frank Claasen added: "We are proud to support 24i's innovative work in developing the infrastructure that will propel the next wave of video content delivery ... It is already a great Dutch and European company, and as the need for this kind of technology becomes essential to nearly every video content provider in the world, it will become a great global company."