24i Completes $2M in Funding for Global Expansion from Newion Investments with Dutch Government Guarantees
Leading European multiscreen “TV Everywhere” technology provider will use investment to scale for partners across the globe in the evolving world of Over-The-Top (OTT)
Amsterdam/Heerenveen(09 Apr 2015)
Amsterdam-based TV applications company 24i today announced that it has finalized its first round of funding from Newion Investments. The arrangement includes Dutch governmental guarantees on loans for innovation, facilitating an investment exceeding $2 million USD. This capital will be used to help the company continue to scale its organization and expand its TV Everywhere (TVE) and Over-The-Top (OTT) TV technology to new partners in new countries.
“This will help us to grow internally and meet the demand of new partners internationally, as well as continue to provide the best service possible to our long list of current partners,” said 24i CEO Martijn Van Horssen. “No matter where viewers are watching, 24i is ready with the best solution for that screen, whether it belongs to a mobile device or a set-top-box monitor.”
A 2012 Deloitte Rising Star, 24i is rapidly growing into a global market leader for TV Everywhere application and software development. The company has already built high performance, multiplatform TV apps in Europe for companies such as FOX Sports, Videoland, RTL, Pathé and HBO. Initially gestated as a smart TV software provider, 24i is recognized for its expertise in addressing all complex aspects of the production chain ranging from content monetization strategies to DRM, and now provides a host of advanced multiscreen solutions across a wide variety of Internet-connected devices.
“We are proud to support 24i’s innovative work in developing the infrastructure that will propel the next wave of video content delivery,” said Newion partner Frank Claasen. “It is already a great Dutch and European company, and as the need for this kind of technology becomes essential to nearly every video content provider in the world, it will become a great global company.”
The surge of new funding will be instrumental especially to helping the company expand in the content provider-rich United States. The company recently opened an American office in Los Angeles and will have a presence at this year’s National Association of Broadcasters (NAB) show in Las Vegas and the Internet & Television Expo (INTX) in Chicago.
“Our technology is built to work out-of-the-box for any potential international partners who are looking to add to their content delivery capabilities,” added Van Horssen.
Among the company’s apps are the Smart App, Smart Builder, and Smart Operator products, which solve the problem of fragmentation by streamlining and simplifying app development and maintenance across all TV platforms. Broadcasters, cable networks and pay-TV operators can also collaborate with 24i using its proprietary production framework, AppCore, to create a fully customizable app that can be distributed across multiple platforms to reach a wider audience and capture more revenue.
For more information on 24i, or to schedule a meeting at NAB or INTX, please visit www.24i.com.
About 24i
24i is an innovative leader in TV app development. We concept, design, develop, deploy and maintain premium TV apps for multiplatform distribution. We collaborate with premium content owners, distributors and technology partners to create advanced TV apps that can be seamlessly deployed across all platforms including Smart TVs, set-top boxes, game consoles, PCs, and mobile and Internet-connected TVs. Our cutting-edge solutions help make premium content available anytime, anywhere resulting in more satisfied viewers and higher revenue. Established in 2009, when the first connected TVs were just hitting the market, 24i has grown into a thought and product leader for TV app development, partnering with TV manufacturers, broadcasters, operators and content owners.