EMERYVILLE, Calif.-MobiTV Inc. said it snared a whopping $70 million in a Series C financing round led by Oak Investment Partners.
The three-year-old wireless video provider said it will use the capital to expand its offerings internationally and across platforms. Oak Investment Partners’ Bandel Carano will join MobiTV under terms of the deal. “We have… developed(ed) this rapidly emerging market across three continents over the last few years,” said MobiTV co-founder and Chief Executive Officer Phillip Alvelda. “We plan to use these funds to provide even more television content on more devices, across more networks and in more countries around the world.”
MobiTV is said to be working to add broadcast capabilities.
