On Monday, Polar Mobile – a platform provider for digital media distribution – announced a $6 million funding round that will help the company push ahead with a new product line.
Led by Georgian Partners, the new funding round adds to the pile of more than $3 million invested to-date from private investors. The cash will make it possible for Polar Mobile to roll out MediaEverywhere, a new product line that will “transform the media industry.”
MediaEverywhere is an HTML5-based solution to distribute media content in a multi-device environment, including smartphones, tablets and desktops. It will include support for both app-centric and browser-based media consumption and enable Polar’s media customers to create, design and manage custom user experiences in-house. MediaEverywhere will decrease customers’ development time and increase their opportunity to monetize their content.
“Polar transformed how media companies deliver content to smartphones and tablets by providing a turnkey, cloud-based software platform for the rapid deployment of feature-rich native applications”, said Kunal Gupta, Chief Executive Officer, Polar Mobile. “We are thrilled to have the backing of Georgian and now it is helping to accelerate the launch of our next-generation software platform, MediaEverywhere.”
For Polar, there couldn’t possibly be a better time to more aggressively pursue expansion opportunities in the digital media space. Gartner reports that more than 440 million devices were sold worldwide in the third quarter of 2011. Of that total, 26% were smartphones, for a total of 115 million new devices in market.