22 August 2022, Boston — A USD 10 million seed round capital raise by TVCoins, a white-label Free Ad-Supported TV (FAST) network, was completed today. The startup’s innovative strategy for releasing video streaming apps and built-in viewer reward schemes attracted a lot of attention from potential investors.
The Chevy Chase, Maryland-based asset management company Roumell Asset Management, LLC helped TVCoins accomplish its seed round funding round. The Hoerner Planning Group, LLC was a prominent investor in the round, a nationwide financial advisory organization headquartered in Middleburg, Virginia.
According to Yossi Aloni, CEO of TVCoins, “this funding has allowed us to develop a platform capable of removing hurdles that have traditionally prohibited content owners from entering the video streaming market.” “We were able to quickly develop the TVCoins platform with the help of Roumell and The Hoerner Planning Group, LLC, as well as other seed investors. We’re excited to introduce the TVCoins solution to other markets in the upcoming months.”
Partner and portfolio manager at Roumell Asset Management, Jim Roumell stated:
“We are happy to have contributed to the funding of TVCoins in this way. The business leads a significant secular trend and is run by highly competent individuals we believe in.”
TVCoins’ CTO, Marek Kielczewski, stated:
“We set out to build a next-generation platform with robust no-code customizability, pre-integrated monetization, and a versatile catalog that supports live channels, events, and other kinds of on-demand content. This platform is the first of its type since it allows for rapidly implementing a cutting-edge, fully customizable streaming service.
Colombian broadcaster Telemedelln recently debuted TM+, is one of TVCoin’s initial partners. The app is a free storage space for the broadcaster’s live and on-demand content.
The General manager of Telemedelln, Deninson Mendoza Ramos, stated:
“Connecting with our audience is a principal focus. We have also been able to reach more Colombians with our original news, comedy, culture, sports, documentaries, and other programs, thanks to our collaboration with TVCoins. With the help of this innovative streaming technology, viewers may enjoy our live and on-demand programming whenever they want, wherever in the globe, and without paying any extra fees.
We are dedicated to exceeding the expectations of our viewers as the primary public television channel in the area, and TVCoins is precisely how we hope to do that.”
Using an app for Connected TV and mobile platforms, TVCoins is a free, white-label video streaming service that offers live content and video on demand. A viewer incentive program on the fully-managed, ad-powered platform-as-a-service (PaaS) incentivizes viewers to watch more content.
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