Media technology innovator funds rollout of internet TV technology in 50 television stations.
IOWA (July 11, 2011) – Executing on its strategy to help broadcasters launch personalized TV via the internet, Syncbak announced today that it has closed its Series B finance round, bringing total capital raised to $5.6 million. New and existing investors include the National Association of Broadcasters, the Consumer Electronics Association, Northwest Broadcasting and three former executives of NBC.
The company is using funds to complete its trial of internet TV technology in fifty television stations (representing seven major broadcast groups) this summer. The technology is driven by proprietary hardware that enables Syncbak and its broadcast partners to stream personalized or 1:1 TV to authenticated viewers on connected devices.
When commercialized, Syncbak’s internet TV platform enables broadcasters to provide ad-supported and pay-to-view programming through an unlimited multichannel line-up. Connected viewers will be able to access expanded local broadcast content over the internet on a family of devices. Syncbak expects the platform to be a launching pad for personalized viewing of niche and traditional broadcast content.
“Completing our Series B financing puts us in an excellent position to hire additional staff, put a consumer facing on Syncbak.tv and continue building out our network of connected affiliates,” says Jack Perry, Founder and CEO of Syncbak. “The stations piloting our technology this summer are getting a glimpse of internet-age TV,” says Perry, “which we see as a personalized viewing experience for consumers and a renaissance for broadcasters.”
Syncbak is a media technology start-up that is enabling broadcasters to reach authenticated viewers over the internet with an unlimited line-up of ad-supported and pay-to-view television. The company’s proprietary hardware uses internet and over-the-air technologies to create a personalized, one-to-one connection between broadcasters and viewers. It then partners with broadcasters to stream all of the content they have or can acquire the rights to stream in their market. Syncbak was founded in 2009 by Jack Perry.
5 Research Center
Marion, IA 52302