Adapting video (and audio) content to meet the requirements of hundreds, if not thousands, of types of mobile devices is a technology challenge that most content providers would rather avoid but nevertheless need to overcome if they are to be successful in an increasingly competitive market.
Enter QuickPlay Media, a five-year-old Toronto based company which built its OpenVideo Platform for just this purpose. On Monday QuickPlay Media will announce that it has completed a $12m fourth round of funding led by GMP Securities bringing the total it has raised from VCs to date to $40m.
The OpenVideo Platform enables QuickPlay’s 150-plus customers – mostly mainstream video content providers – to connect with 15 major mobile operators and powers audio and video products that reach more than 100m subscribers.
Smartphone owners may be familiar with some of the latest services built around the OpenVideo platform including Sirius XM Radio’s Mobile application available for Apple’s iPhone and iPod Touch and QuickPlay’s most recently announced solution, the award-winning PrimeTime2Go low cost subscription mobile TV service which features content from leading US networks including ABC, CBS and NBC.
PrimeTime2Go is a video-on-demand service that enables consumers set their devices, including BlackBerrys, to automatically retrieve full episodes of popular TV programs over an open WiFi connection as they become available and store the content on their handset for viewing at a convenient time.
Wayne Purboo, chief exeutive and founder of QuickPlay which currently employs about 75 people, says the new funds will be used to accelerate development efforts and capitalise on the momentum that the company has achieved. He said he does not anticipate any further funding rounds and expects the company to be cash flow positive “within 18 months.”
