Israeli technology vendor Tvinci is taking on a $4.5 million investment to seek out global clients for its internet TV apps platform.
TV and telco operators are busy considering the range of innovative options for mobile live and on-demand viewing, social sharing, remote controlling and other scenarios.
Tel Aviv-based Tvinci recently unveiled a new version of its “OTT” (over-the-top) white-label platform, which is used by clients like LibertyGlobal’s Cello and Finland’s Elisa.
Co-founder Ido Wiesenberg tells paidContent the firm signed seven clients in the last year, tripled its revenue and is due to announce a big Asian client win. Now it is taking money led by existing investors Kaedan Capital and Zohar Gilon plus newcomer investor Trellas Enterprises.
“One of the goals in raising this round was to open up new markets. So far, our main target was Europe,” Wiesenberg said. “We need to grow. In the countries we are targeting, the population is huge.”
“OTT 2.0“, as Tvinci’s new platform is called, lets broadcasters show live and on-demand video to users through apps but also includes social sharing functions, personalisation and discovery. Viewers can also sling video from apps to full-size TV and set top boxes.
The suite has come a long way since Tvinci began in 2007 and raised $1.6 million two years later. The company claims to have doubled revenue each year since 2008 and to double its staff by year’s end.
Several notable online video companies have come out of Israel. To Wiesenberg, that’s a welcome anomaly.
“We don’t have services like Hulu or Netflix so far,” he says. “It’s not like the US where everything is online. However, TV is very popular and there is a passion to innovate.
“The Israeli market is not as advanced as the UK or Europe, but you have very innovative companies like Boxee coming from Israel.”
Despite the rush amongst operators to be on new mobile and tablet devices, Tvinci does not yet have business in the States – another of the reasons it has raised money.
“This is the goal of the new funding, to explore new markets,” Wiesenberg said. “We are experimenting to partner with companies and have a local representatives. I expect to have some news within a year.”