Polar Mobile, a Toronto-based platform provider for digital media distribution, has secured a $6 million funding round led by Georgian Partners with co-investment from the Ontario Venture Capital Fund. This brings its total funding to more than $9 million.
The company said it will use the investment to expand and to launch MediaEverywhere, Polar Mobile’s HTML5-based media content distribution solution that is designed to seamlessly handle multi-device environments, before the end of the year.
MediaEverywhere will include support for both app-centric and browser-based media consumption. This will make it possible for Polar’s customers to decrease development time and to create, design and manage custom user experiences in-house.
“The complexity of new platforms and ever-changing business models introduces new opportunities that media companies can benefit from with Polar’s help”, said Justin LaFayette, managing director, Georgian Partners. “We are excited about Polar’s ability to scale globally and their vision for leveraging applied analytics to enhance engagement and drive monetization of media.”
Headquartered in Toronto, with a presence in San Francisco and Dubai, Polar said it expects to double its team from 40 to 80 people before the end of 2012, and will open offices in New York and London.
Press release – http://tinyurl.com/6qadnnf
Photo by Flickr user meddygarnet, used under Creative Commons license