Online learning platform 2tor today announced the close of a $26 million Series D funding round led by an affiliate of the Hillman Company. This brings the Chelsea Piers-based company’s total venture funding to $96 million. All previous investors—Bessemer Venture Partners, Highland Capital, Redpoint Ventures, Novak Biddle Venture Partners and City Light Capital—who helped 2tor raise $32.5 million just over a year ago decided to come back. Joining them were new investors SVB Capital and WestRiver Capital.
A magical thing happened at IAC’s headquarters this morning. A startup called Aereo displayed the most compelling argument for cord-cutting we’ve heard in awhile. It came in the form of a thumbnail-sized HD antenna. Sign up with Aereo and users get the right to license their own antenna, which are stored in a local warehouse. Then, log on via any web-enabled device (smartphones, iPads, even AppleTV) and ta-da, members can access major networks like CBS, NBC, FOX, ABC, CW, and PBS, as well as other local channels. Better yet, you also have the ability store up to 40 hours of programming on their remote DVR.
“No cords or cable required,” the company’s press release says pointedly. The service is limited to New York City right now, but only costs $12 a month. Throw in a Netflix account, Hulu, and you’re probably good to go. Happy Valentine’s Day, Dying Cable Industry!
Aereo (formerly called Bamboom Labs) also anounced a $20.5 million series A round led by IAC.