Aereo, which soon will be providing New York City “members” with a proprietary remote antenna and DVR to access network television on such Web-enabled devices as smartphones and tablets, and through such internet TV solutions as AppleTV and Roku, just garnered $20.5 million in Series A financing, led by IAC.
Previous investors, including FirstMark Capital, First Round Capital, High Line Venture Partners, Highland Capital Partners and select individuals, participated in the round, bringing Aereo’s total funding to approximately $25 million. In addition, IAC chairman/senior executive Barry Diller has joined Aereo’s Board of Directors.
According to Diller, “Aereo is the first potentially transformative technology that has the chance to give people access to broadcast television delivered over the Internet to any device, large or small, they desire. No wires, no new boxes or remotes, portable everywhere there’s an Internet connection in the world – truly a revolutionary product.”
Beginning March 14, Aereo’s members will be able to watch content from all of the major networks, the company says, including CBS, NBC, Fox, ABC, CW and PBS as well as other local channels. They also will be able to store as many as 40 hours of programming on their remote DVRs; no cords or cables are required.
Prospective Aereo members must be New York City residents (click here), and they will get a 30-day free trial. After than, membership is $12 per month. The Aereo service also lets users share, chat and discuss shows in real time with other Aereo members via Facebook and Twitter.