TIOTI gets funding from Pond Venture Partners
22nd October, 2007: TIOTI, the social media aggregator and one-stop source for TV content, have successfully concluded first-round funding with Europe’s largest early-stage technology venture capital fund, Pond Venture Partners. This investment follows hot on the heels of earlier angel investors, including partners from Alegro Capital.
After TIOTI’s successful public launch of the service on October 1st, www.tioti.com is now indexing over 75,000 television shows and more than 500,000 individual episodes for download. TIOTI have doubled their registered users, increased overall visitors by 300%, and served over half a million pages since the beginning of October, 2007.
The funding, a seven-figure amount, will enable TIOTI to invest in technical infrastructure to support user growth, improve their current online offering and extend the service to a broader range of consumers across a number of platforms.
Dr Mike Gera, General Partner at Pond Ventures noted, "In TIOTI, we're backing a team with the drive and vision to have a big impact in the rapidly evolving world of TV on the Internet. This investment is the culmination of a carefully implemented Pond strategy to bring Internet TV, social networking and Web start-ups into the Pond portfolio."
“TIOTI is offering something unique, which nicely complements the recent launches of IPTV and TV download services from various household names, so we are excited to be part of the development of this service, supporting it with our expertise.” concluded Gera.
Paul Cleghorn, TIOTI’s UK founding partner and creator says: “It is fantastic to have the support of an experienced investment partner like Pond as we build TIOTI into the best place on the internet to go for TV.”
Marc Colando, TIOTI’s US founding partner adds: “We are thrilled to have Pond onboard with TIOTI at the start of this exciting global transition period for television. This investment will help bring the internet TV proposition of TIOTI to the mass market.”
TIOTI is rapidly expanding its one-stop source for TV content and TV community services, so sign up now at www.tioti.com to get plugged in!
