Mumbai: Global media company Tappp has raised $4.2 million in funding to expand its open-distribution platform for premium digital-content delivery, while also launching services in Singapore and Australia.
The investment round was led by Accomplice (formerly Atlas Venture), with participation from Transmedia and serial investors such as Mike Baker, Gina Garrubbo and Keith Nilsson.
Tappp provides consumers with movies, TV and live sports through a network of premium content owners. The service can be purchased by subscription or by prepaid options that are available through retailers and online distribution partners. The company currently offers services in India and Southeast Asia, and will soon be available in Canada.
Tappp has content partnerships with HooQ (Singtel Group, Sony Pictures Television and Warner Bros.), DittoTV, Box TV, Gaana and others. It has retail distribution in more than 100,000 stores through partnerships with chains like Big Bazaar and eZONE, and online marketplaces such as Snapdeal. Tappp also enables seamless access to payments from mobile wallets.
“Tappp’s first year in operation not only proved out our business model, but it was also a year of tremendous growth,” said Sandy Agarwal, the founder and CEO of Tappp. “We are now in an excellent position to expand into new geographies and accelerate that growth by offering a wide variety of content that is not currently available. For content owners, Tappp is one connection for seamless distribution of their digital content to geographies around the world. For consumers in each market, we offer a much wider range of content choices, including live sports, at a fraction of the cost of existing services.”
Ryan Moore, partner at Accomplice, said: “Tappp makes it easy for content owners to distribute their content and easy for users to consume it, and that’s a winning combination. The potential for Tappp to be the one place where all of your premium content can be accessed is compelling.”