Tivli, a startup that enables university students to watch television over the Internet on any device on campus, has raised $6.3 million in its first round of funding.
New Enterprise Associates led the series A financing, which also included participation from Felicis Ventures, Rho Ventures, Home Box Office, Mark Cuban’s Radical Investments, WME and CBC New Media of Raleigh. CBC New Media Group is part of Capital Broadcasting, the parent firm of WRAL Tech Wire.
“For us, Tivli is about reaching the next generation of viewers on every kind of television,” James F. Goodmon, Jr., Capitol Broadcasting Company’s Vice President of New Media said in a statement. “Students are forming new types of viewing habits and it is important for local broadcasters to be in the mix. Tivli has a smart and talented team with a strong commitment to user experience and content rights.”
Tivli said that the funding will be used for expansion of its technology in universities and other operational and strategic initiatives. The startup began in a Harvard dorm room. Co-founders Tuan Ho and Nicholas Krasney wanted a more convenient way to watch TV on campus and they created what became Tivli’s first streaming service. The Boston-based company initially incubated at Harvard. Seed Investors included NEA, Flybridge Capital Partners, the Experiment Fund, Felicis Ventures and TriplePoint Capital. After its initial launch at Harvard, Tivli has expanded to offer its services at Yale, Texas A&M University, the University of Washington and Wesleyan University, among others.
“Tivli was one of the very first companies we met on campus as part of the exceptional community of talent we’ve built with the Experiment Fund at Harvard,” said “Tivli’s vision got us very excited: to bring ‘social TV 3.0’ to the college campuses most ripe to recognize, and to run with, new active viewing possibilities.
“Television is still the world’s most powerful medium – and it has been a static, unilateral broadcast experience on college campuses for too long,” NEA Partner Patrick Chung said in a statement. “Tivli’s going to change that.”
Tivli is riding the “bring your own device” wave, where people can use whichever Internet-enabled device they prefer – PC, smartphone or tablet – to consume content. Tivli CEO says his company will enable students to watch television when they want, where they want and on the devices they want. The service is offered securely over existing data networks. It offers seamless access to a university’s multi-channel TV lineup, typically offered in residence halls, on any device. Features include a built-in guide and DVR. Tivli said it is also rolling out on-demand products like TV Everywhere and HBO GO.
