Light Reading
Describing itself as "a next-generation cable provider," Boston-based Layer3 TV emerged from stealth mode today with the announcement that it has closed an initial $21 million funding round.

Cable Vets Launch IP Video Startup

Mari Silbey
3/13/2014
100%
0%

Emerging from stealth mode, an IP video startup called Layer3 TV and staffed by cable industry veterans announced that it has raised $21 million in a Series A funding round.

Describing itself as "a next-generation cable provider" combining "the best of television, social media, and digital life," the company is headed up by several notable cable industry veterans, including Jeff Binder as CEO, Dave Fellows as CTO, and Chuck Hasek as head of video technology. Binder previously founded the video-on-demand company Broadbus Technologies, which was sold to Motorola in 2006. Fellows held the title of CTO at both Comcast Corp. (Nasdaq: CMCSA, CMCSK) and ATT Broadband. And Hasek was most recently in place at Time Warner Cable Inc. (NYSE: TWC) as the principal architect of video systems.

North Bridge Venture Partners and Evolution Media Growth Partners, which is a joint venture between private equity firm TPG Growth and Evolution Media Capital, co-led the initial funding round.

Layer3 TV has been flying under the radar for months. In a conversation with Light Reading back at the Consumer Electronics Show in Las Vegas two months ago, executives were unwilling to provide details about the company's launch plans except to suggest that Layer3 will not focus on legacy cable technology. Today's announcement was still light on details, but it does hint that Layer3 will work directly with programmers, and that it will connect the television experience to the Internet of things.

“Massive consolidation in the cable industry has created a greater need for innovative startups to step out and lead. Layer3 TV’s technology aims to enhance the current eco-system, while providing consumers with simple, cool and technically advanced television solutions that can keep pace with the ‘Internet of Things.’ This is key to creating significant value," said CTO Fellows.

The press release also explains that, while Layer3 wants to deliver a "differentiated video consumer experience," it wants to do so by fitting "within today's programming and distribution paradigm."

“In today’s connected world, the television is becoming more than just a lean-back experience -- it is becoming the hub for state-of-the-art technology in the living room,” said CEO Binder. “Layer3 TV merges the television experience with consumers’ digital lives in ways that engage and enhance the programming and distribution eco-systems. We intend on delivering that promise.”

The Layer3 TV leadership team also includes Eric Kuhn as head of marketing, who previously ran social media for United Talent Agency and CNN, and Vic Odryna as head of product development, formerly CEO of Idea Arc and ZeeVee. North Bridge Partner Jamie Goldstein is joining the company's board of directors.

— Mari Silbey, special to Light Reading

(3)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View
albreznick
50%
50%
albreznick,
User Rank: Blogger
3/18/2014 | 9:19:08 PM
Re: Light on substance
Yeah, they are pretty good with the buzzwords, aren't they? Probably because they don't want to reveal too much yet. Their mission shouild become clearer over the next few months. We'll be trackng them. 
wanlord
50%
50%
wanlord,
User Rank: Light Sabre
3/14/2014 | 1:17:26 PM
Re: Light on substance
"Layer3 TV" Sounds like a fancy way of using the OSI Reference Model to say "Over the Top" content over IP. Also, looking at the positions they have open, they could blow through that VC funding pretty quick!
Mitch Wagner
100%
0%
Mitch Wagner,
User Rank: Lightning
3/13/2014 | 5:58:27 PM
Light on substance

If this company's business plan is to win at buzzword bingo, they're off to a good start. They don't actually say what they're going to do, and how their service will be something that consumers will find desirable. But they sure do hit those buzzwords pretty hard, "Internet of Things," "lean back experience," etc. etc. Any idea what these guys are going to do that people will want to spend money on?

Flash Poll
From The Founder
It's clear to me that the communications industry is divided into two types of people, and only one is living in the real world.
LRTV Documentaries
Paul Bunyan's Giant Gigabit Plans

12|22|14   |   03:26   |   (0) comments


Gary Johnson, the CEO and GM of Minnesota rural operator Paul Bunyan Communications, discusses the company's 5,000-square-mile gigabit network rollout.
LRTV Interviews
CenturyLink: Building the Case for NFV

12|19|14   |   02:14   |   (0) comments


At the 2020 Vision Executive Summit, James Feger, VP, Network Strategy & Development at CenturyLink, talks about how the US operator is approaching virtual network functions from an operational and business case perspective.
LRTV Interviews
Liberty Global Sees Business Goldmine

12|18|14   |     |   (0) comments


Steen Sorensen, VP of business services for Liberty Global, explains where the giant international MSO sees growth potential.
LRTV Documentaries
EE: The Road to 5G

12|16|14   |   16:02   |   (1) comment


Andy Sutton, the principal network architect at UK mobile operator EE, explains how his company is using Wembley stadium as a wireless test bed and how that's helping EE to plan the evolution to 5G.
LRTV Huawei Video Resource Center
Highlights of Huawei's NFV Open Cloud Forum 2014

12|16|14   |     |   (0) comments


Huawei hosted its inaugural NFV Open Cloud Forum during the SDN & OpenFlow World Congress 2014 in Düsseldorf, Germany. The Forum brought together technology thought leaders, senior executives and telecom professionals from global carriers, industry associations, as well as other partner companies in the ecosystem, to exchange views on and collectively explore how ...
LRTV Custom TV
Realizing Operators' Digital Vision

12|16|14   |   5:23   |   (0) comments


Leveraging technology is fundamental to digital transformation but understanding customers and serving them really well is at the heart of digital businesses. TM Forum lists the following as the strategic pillars of the digital business: business agility and rapid innovation, operational agility and effectiveness, IT and data centricity, plus customer centricity. ...
LRTV Documentaries
US Cellular Injects Analytics Into LTE

12|16|14   |   2:57   |   (1) comment


US Cellular's Mario Vela explains how the operator uses analytics for network planning and what comes next as the carrier looks to eke more value out of its metrics.
LRTV Interviews
How Cox Biz Plans to Keep Growing

12|15|14   |     |   (2) comments


Steve Rowley, SVP of Cox Business, details how the third-biggest US MSO intends to boost its revenues to $2 billion and beyond over the rest of the decade
LRTV Huawei Video Resource Center
Interview With Bill Zhang, Director of SoftCOM Product Management, Huawei

12|15|14   |   2:50   |   (0) comments


Bill Zhang elaborated on Huawei's open philosophy in NFV solution development and network architecture design at the SDN & OpenFlow World Congress 2014.
LRTV Huawei Video Resource Center
Event Highlights: Huawei at SDN & OpenFlow World Congress 2014

12|15|14   |   3:43   |   (0) comments


Huawei joined the 2014 SDN & OpenFlow Congress as one of the key sponsors and contributors. At the event, Huawei reinforced the openness and flexibility of its network infrastructure strategies, and provided updates on its SDN and NVF innovations. Through participations at the exhibitions, forums and speeches, Huawei encouraged the industry to "think bigger and ...
LRTV Interviews
How Cable Biz Services Hit $10B Mark

12|12|14   |     |   (1) comment


Cable operators reached $10 billion in annual business services revenues by delving deeper into their vertical markets and expanding beyond the smallest firms.
LRTV Documentaries
Mediacom Aims to Test Connected Tractors

12|11|14   |   05:07   |   (3) comments


Cable business service provider is taking its services to the 'agribusiness' sector in partnership with farm equipment specialist John Deere and is getting involved in Gigabit Cities developments.
Upcoming Live Events
February 10, 2015, The Westin Peachtree Plaza, Atlanta, GA
March 17, 2015, The Cable Center, Denver, CO
April 14, 2015, The Westin Times Square, New York City, NY
May 6, 2015, McCormick Convention Center, Chicago, IL
May 13-14, 2015, The Westin Peachtree, Atlanta, GA
June 9-10, 2015, Chicago, IL
Hot Topics
T-Mobile, BlackBerry Flirt With Reuniting
Sarah Reedy, Senior Editor, 12/17/2014
1-Gig: Coming to a Small Town Near You
Jason Meyers, Senior Editor, Gigabit Cities/IoT, 12/17/2014
Comcast Launches 4K Streaming Service
Alan Breznick, Cable/Video Practice Leader, 12/18/2014
US Carriers, You're Going to Cuba!
Mitch Wagner, West Coast Bureau Chief, Light Reading, 12/18/2014
Google Steering Android Towards Cars – Report
Dan Jones, Mobile Editor, 12/19/2014
Like Us on Facebook
Twitter Feed
Webinar Archive