Simple.TV draws $5M in venture money
Really Simple Software said it closed $5 million in Series A funding from New World Ventures.
The company launched Simple.TV over a year ago at CES 2012. The system is based on a DVR that streams both live and recorded TV shows to tablets, phones, or connected TVs. The system is designed for consumers looking to supplement over-the-air (OTA) broadcast TV with over the top (OTT) services such as Netflix and Hulu.
The company said it plans to use the investment to expand its platform, enhance its cloud services, add new client applications across CE devices and expand its service beyond North America.
“The explosion of Internet-connected consumer electronics is rapidly changing television distribution and consumption. This phenomenon delivers tremendous benefits to consumers while also holding great promise for content owners and distributors,” said Matt McCall, New World Ventures partner. “Simple.TV serves the needs of both audiences and we look forward to partnering with its leadership team as they continue to expand their innovative platform for TV everywhere.”
Simple.TV was launched in 2011 with seed capital from Accanto Partners, a super angel fund based in Tiburon, CA.
New World Ventures’ other investments include Fleetmatics, SinglePlatform (acquired by Constant Contact), Zinch (acquired by Chegg), Playdom (acquired by Disney), LeftHand Networks (acquired by Hewlett-Packard), and TicketsNow (acquired by Ticketmaster).