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Venture Capital News: Tivli Completes $6.3M Series A Fnancing

BOSTON, MA, Innovative IP-based service that delivers television to university students on their devices anywhere on campus, today announced the completion of a $6.3 million Series A financing.
Tivli, an innovative IP-based service that delivers television to university students on their devices anywhere on campus, today announced the completion of a $6.3 million Series A financing. New Enterprise Associates (NEA) led the raise with participation from venture investors Felicis Ventures and Rho Ventures, and strategic investors including CBC New Media Group of Raleigh NC, Home Box Office, Inc. (HBO), Mark Cuban's Radical Investments, and WME. The new funds will be used to fuel Tivli's expansion in the university market and other operational and strategic initiatives.

'Tivli is a fast-growing entertainment service for college campuses that streams live, time-shifted and on-demand TV content to students on their terms - when they want, where they want, and on the devices they want,' said Christopher Thorpe, the company's CEO. 'Tivli also provides an innovative service to the universities with cost-effective, secure video distribution over their existing data networks. Moreover, students tell us that Tivli makes their on-campus living experience even better. We're proud to have earned the support of our world-class investors and look forward to working with them as we build a great company.'

'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 Patrick Chung, Partner, NEA. '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. Tivli's going to change that.'

'For us, Tivli is about reaching the next generation of viewers on every kind of television,' says James F. Goodmon, Jr., Capitol Broadcasting Company's Vice President of New Media. '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.'

'I'm excited to be part of Tivli and think they are the future of entertainment on college campuses,' said Mark Cuban, CEO of Radical Investments. 'Tivli is a great complement for AXS TV and my other entertainment investments.'

Tivli offers students a one-stop, seamless experience to access the university's multi-channel TV lineup, typically offered in residence halls, from anywhere on campus and soon on multiple devices. Tivli also offers a sleek interface, built-in guide and DVR, and is rolling out integration with TV Everywhere and on-demand products like HBO GO, interactive content and social media integration.

Tivli began in a Harvard dorm room when Tivli co-founders Tuan Ho and Nicholas Krasney wanted a more convenient way to watch TV on campus and created Tivli's first streaming service. Tivli was incubated by Harvard Student Agencies, the Technology and Entrepreneurship Center at Harvard, Summer at Highland, Fresh Pond Partners, and the Harvard Innovation Lab (i-lab).

The company's seed investors included NEA, Flybridge Capital Partners, the Experiment Fund, Felicis Ventures and TriplePoint Capital. After its initial launch at Harvard, Tivli has grown to Yale, Texas A&M University, the University of Washington, and Wesleyan University, among other universities.

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