ATLANTA—Mobile television provider SmartVideo Technologies Inc. said it raised $9 million in a private placement.
SmartVideo delivers video programming to users with smart phones and laptop computers, and boasts relationships with content providers including ABC News, Fox Sports, The Weather Channel and MSNBC. The firm is also dipping its toe in the mobile marketing waters, teaming with an unnamed mobile Internet portal to deliver interstitial ads within video content.
The company said it will use the capital to develop video-delivery applications and expand its marketing efforts.
“Mobile video has emerged as one of the biggest growth categories in the wireless industry with some of the biggest media companies in the world looking to capitalize on the space,” said President David Ross. “The new round of funding enables SmartVideo to obtain and create new, exciting content in addition to new, custom-built applications that will benefit subscribers and mobile partners alike.”
