MobiTV attracted two more investors during its Series C Funding. Adobe Systems and Hearst Corp. joined several other investors kicking in a combined $30 million, increasing MobiTV’s take in the financing round to more than $100 million.
Other investors in the round include Oak Investment Partners, Menlo Ventures, Redpoint Ventures and Gefinor Ventures. MobiTV said it will use the funds to support growth and to invest in further R&D of new network technology standards such as WiMAX.