Aereo, Inc., a NYC-based provider of antenna and DVR technology that allows consumer to tune an individual, remotely located antenna and makes personal recordings on a cloud DVR, closed a $34m Series C financing.
Backers included IAC, media investor Gordon Crawford, Himalaya Capital Management, and existing investors Highland Capital Partners, FirstMark Capital and others.
The company intends to use the funds for nationwide expansion and increased investments in hiring and technology.
Led by Chet Kanojia, CEO and Founder, Aereo allows users to watch, pause and rewind live TV shows, sports, and news online with no cable required. The technology works on “smart” devices from tablets to phones to laptop computers. Aereo is currently supported on iPad, iPhone, iPod Touch, on Chrome, Safari, Internet Explorer 9, Firefox, Opera, AppleTV (via airplay) and Roku platforms.
It is available in 10 markets (New York City, Boston, Atlanta, Miami, Salt Lake City, Houston, Dallas, Denver, Detroit and Baltimore) and will grow to 15 by the end of the quarter.