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MobiTV Closes Series C with Additional $30 M

Thursday, November 02, 2006 6:00:00 AM PDT | VentureDeal Staff

EMERYVILLE, CA --

MobiTV announced the closing of its Series C round with a final $30 million investment by two new investors, Adobe Systems Incorporated and Heart Interactive Media.  The company offers popular TV and digital radio channels delivered to mobile devices on a subscription basis.

The investment adds to the previous receipt of $70 million by investors including Oak Investment Partners, Menlo Ventures Redpoint Ventures and Gefinor Ventures.

The company plans to use the funds to support additional growth.  It states that it has over one million subscribers.

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