CONNECTIONS Europe speaking company, Tvinci, Pay-OTT Platform provider, has announced that its year of sharp growth and development has been further boosted with a $4.5 million round of funding that will be invested in its OTT 2.0 Platform development and international expansion into new markets. The round was led by the company's existing investors, Kaedan Capital and Zohar Gilon, and new investor Trellas Enterprises.
The announcement comes as the world looks to the concept of delivering video over the Internet as the major way in which consumers will access the growing amount of available video content and programming. Momentum for the consumption of content this way continues to build.
The investment follows the most successful year to date in Tvinci's five year history. The company has seen revenues double every year since 2008, and triple in 2012 compared to 2011. It has secured seven new TV operators as customers, including Liberty Global, owner of multiple cable operators throughout Europe; Elisa, Finland's second largest telco operator; and other major media companies and operators in Europe and Asia, to be announced in the coming months. To answer the growing demand for its technology and services, Tvinci has grown its team from 25 to 50 employees by the end of the year.
With an established footprint in Europe, they are now gaining traction in Asia, Latin America and the US, and see these markets as huge potential addressable markets.
Amir Eilat, VP Product Marketing, Tvinci will be speaking on the CONNECTIONS Europe panel, "The Value of Multiscreen Video - Moving Consumers to Premium Services" on November 14.
