ZoneTV, formerly ES3, closed a $4.1 million seed funding round led by BEST Funds.
Santa Monica, CA – November 16, 2015
“Zone·tv 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.”
Zone·tv 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. It had long been a dominant player in the TV Apps market for years 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 zone·tv. He added, “Our future is exciting as we are leaders in this new category of bringing digital content to Pay TV, 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.”
Zone·tv 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. Zone·tv also utilizes a forward-looking business model that works for all stakeholders in the rapidly changing environment of Pay TV. Zone·tv 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 zone·tv and arranged the financing with BEST.
Selections of zone·tv’s diverse programming can be seen on AT&T U-verse, Comcast, DIRECTV, CenturyLink, TELUS, Bell Canada, Frontier Communications and others. Zone·tv offers more than 30 new and original channels to North America and Europe. Zone·tv is bridging the gap between technology and engaging programming with zone·tv Dynamic Channels. The result is a new cable/satellite content category that offers a best-in-class personal user experience blending the convenience of linear viewing with the flexibility of on-demand programming in a highly personalized viewing experience. Zone·tv genres include kid’s programming, fitness, cooking, casual games, sports, lifestyle among other popular genres. The company has offices in Toronto and Santa Monica, CA. For more information, visit www.zone.tv.
About BEST Funds
BEST Funds is a leading Private Equity/Venture Capital firm that focuses on funding rapidly growing Canadian companies by providing them with the capital needed to execute their growth strategies and fully develop their Intellectual Property. Primarily focused on companies with recurring revenue streams in the technology, healthcare and financial services industry, BEST Funds is actively deploying capital to some of Canada’s fastest growing companies. BEST Funds was established in 1996 in Toronto and works with companies across Canada. For more information, visit: www.bestfunds.ca