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PEERTV TV RAISED $1 MILLION
PeerTV, provider of internet TV solutions, today announced the completion of a $1M round of private equity financing. The financing round was led by highly net worth private investors. The sum raised will be utilized to enhance the company's worldwide sales and marketing efforts.
PeerTV is a privately-held Delaware, US Corp with a fully owned subsidiary in Israel. The company was founded in 2007 by Haim Bechor and Eatamar Drory, and employs 25 engineering, R&D, marketing and sales experts. Since its establishment, PeerTV has successfully sold over 40,000 advanced Internet TV set-top-boxes to TV operators, enabling mass-deployment of subscription based TV services globally. The company's sales exceeded $2.5 M in 2008 to customers in Germany, Canada, Israel and South America.
PeerTV's over-the-top Internet TV solution offers operators an inexpensive and fast deployment solution for setting a video on demand & live streaming service for home TVs. The advanced internet TV HD set-top-boxes and complying software provide a full development framework needed to construct a user-friendly environment and an ultimate TV user experience surpassing the latest in digital TV.
"Closing a financial round in these economic hard times has proved to us that we have gained our investors' full confidence in our products and our business plan," stated Eatamar Drory, PeerTV's founder and CTO. "This reinforces our mission, as we now face future challenges backed by an experienced team, proven technology and a fortifying group of investors."
According to IMS Research, by 2013 the number of connected TVs – video stream enabled TVs - will be over 300 million. ABI research hence predicts that the estimated growth in online video consumption from 563 million at the end of 2008 to 941 million by 2013, will be accumulated in the ongoing increase of TV-viewed online video.
About PeerTV
PeerTV is leading provider of internet TV solutions, enabling over-the-top delivery of video and web content directly to home TVs. PeerTV manufactures and develops customized products for TV operators and content providers interested in offering live streaming and on-demand video services. PeerStation, PeerTV's advanced Internet TV HD set-top-boxes, combine the latest in streaming video including digital terrestrial TV formats - DTT and DVB-T. PeerTV's widget based MediaXplorer TM software and CMS system provide a fully customizable solution with strong content integration and personalization tools. |
