June 3, 2009

beeTV Raises $8M

beeTV, the pioneers and inventors of the PCC™ (Personal Content Channel™) today announced the completion of a Series B Fund acquisition of $8 million U.S. dollars. The funding was led by Innogest, the largest venture capital firm operating in Italy. beeTV targets to become the default entry system for television viewers into their world of TV entertainment. Additionally, beeTV plans to invest in sales and expand its penetration into the U.S. and Far East markets.

“This is the single largest investment our firm has ever made,” said Marco Pinciroli, Innogest CEO. “This fact alone shows how much we believe in beeTV, with the concept, its management, and its business strategy.” “We already knew we had the most innovative product on the market. Now we have the means to push it to the next level,” commented Rodolfo Hecht, beeTV’s Chairman. “We are proud of being one of the few companies that is able to announce a major VC deal in today’s frozen market.”

“Innogest has been tremendously supportive of beeTV. Their investment shows their commitment to the company’s vision and their belief that this is an exceptional market opportunity, especially in these challenging times,” added Yoram Granit, beeTV’s CEO and Co-Founder.

beeTV offers the platform operator’s subscribers their own Personal Content Channel (PCC), which resides in their set top box (whether IPTV, cable, satellite, mobile or DTT), their mobile phones and their PC. This unique Personal Content Channel identifies the subscriber, searches all the content sources, including broadcast TV, subscription TV, VOD, SVOD, PPV, and PVR/Catch-up and pushes the relevant content to that subscriber.

By using a revolutionary, proprietary, contextual matching algorithm, the PCC pushes relevant content through an entertaining, personalized “channel”, while automatically anticipating viewer needs and desires, taking into account context, schedule, behavior, and even mood of the viewer. The white labeled PCC is designed to serve three screens: TV, mobile and PC.

Providers have the option to integrate all three screen PCC’s or choose a combination that fits their own marketing and distribution needs. In this way, beeTV delivers a powerful and modular solution that widens the reach of the operator’s brand and creates valuable conversions in today’s “on-the-go” devices.

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