SANTA MONICA, Calif.--(BUSINESS WIRE)--ZoneTV, formerly ES3, closed a $4.1 million seed funding round led by BEST Funds.
“ZoneTV is quietly growing into a dominant player in their field,” said Alan Chettiar, Vice-President, Investments, for BEST Funds. He added, “We believe they are poised to become the essential partner for cable companies looking to lead in the changing entertainment content delivery landscape. We have followed them for a number of years and we are excited to take this next step with Jeff and the team.”
ZoneTV is positioning its new advanced platform and enhanced digital-first offerings to deliver its unique programming to millions of TV households through its top-tier distribution partners. For many years, it has been a dominant player in the TV Apps market known for delivering high-value entertainment experiences.
“This investment by BEST Funds positions us for a strong finish to 2015,” said Jeff Weber, Chief Executive Officer of ZoneTV. He added, “Our future is exciting as we are leaders in this new category of bringing digital content to Pay TV, we have a strong management team in place with a proven track record, a new office location in Silicon Beach to sharpen our focus on digital media, and a strong history of working effectively with leading Pay TV operators to reach millions of homes.”
ZoneTV enhances the Pay TV experience for operators, content providers and audiences. It delivers a personal, dynamic TV experience which viewers, particularly Millennials and other underserved audiences, are wanting. ZoneTV also utilizes a forward-looking business model that works for all stakeholders in the rapidly changing environment of Pay TV. ZoneTV uses the existing billing and marketing resources of the Pay TV Operator to generate new advertising and subscription revenue-share opportunities. It combines the best of traditional Pay TV and OTT to deliver a whole new experience for consumers.
WCM Capital acted as corporate finance advisor to ZoneTV and arranged the financing with BEST.
About BEST Funds:
For more information, visit: www.bestfunds.ca
About ZoneTV:
For more information about ZoneTV visit: www.zone.tv
