EMERYVILLE, Calif. -- MobiTV, Inc., the global leader in mobile and broadband television and music services, today announced the second close of its Series C Funding with an additional $30 million investment and two new investors, Adobe Systems Incorporated and Hearst Corporation, bringing the total round to more than $100 million. Additional investors in the round include Oak Investment Partners, Menlo Ventures, Redpoint Ventures and Gefinor Ventures. These funds will support the Company's continued growth in response to the overwhelming demand for its mobile and broadband television and radio services.
"We are truly fortunate to have garnered such a fantastic set of partners that share our vision of transforming the way people experience and interact with TV and radio wherever they are, no matter what device they happen to be watching," said Dr. Phillip Alvelda, CEO, chairman and co-founder, MobiTV. "We plan to use these funds to strengthen our current market lead, and to invest in further research and development of new network technology standards such as WiMAX."
MobiTV Inc.