– TechCrunch –
Multiscreen video store platform Latto, which offers a white label solution for Telcos, Broadcasters, and Content Aggregators that want to get in on the multi-screen streaming and on-demand video action, has closed a $4 million dollar funding round, adding to the $11 million that the Israeli startup has previously raised.
The new investment comes from an unnamed private Luxemburg-based fund, though according to CrunchBase data this is likely previous backer Neurato Investments. Latto’s other earlier investors include 2B Angels and Plus Ventures.
Operating in an ever more crowded market — Latto’s competitors include The Platform, SeaChange, Quickplay, and Ooyala, as well as Cisco and Ericsson at the Telco end of the market — the company is tapping into the so-called ‘cord cutting’ trend that is seeing consumer uptake for ‘Over-the-Top’ (OTT) video. In addition, the advent of multiple devices (PCs, smartphones, set-top boxes, connected TVs, and tablets) is seeing the need for a multiscreen solution, providing video assets that target and are interoperable with different screen resolutions and codec support…