Navic Founder Creates New OTT Startup
Bamboom Labs, a provider of infrastructure technologies designed to allow consumers access to live TV over the Internet, has raised $4.5 million of seed funding led by FirstMark Capital, a New York City-based venture capital firm. Additional investors in the round included High Line Venture Partners, SV Angel/Ron Conway, First Round Capital, and Highland Capital Partners.
Bamboom Labs was founded by Chaitanya “Chet” Kanojia, who most recently founded and led Navic Networks as CEO through its successful acquisition by Microsoft in 2008. Navic’s technology allowed for the real time collection of set top box data at scale and created the first advertising platform that provided “Internet-like” targeting and buying to the traditional TV markets.?
Bamboom Labs has invented technologies to equip customers with the ability to access live, free, over-the-air broadcast signals securely over the Internet, and direct it to IP-enabled devices on their own terms.
Bamboom Labs is actively working with early members of a closed Beta. The company anticipates rolling out additional invitations to select groups over the coming weeks.