Next-Gen Cable Startup Layer3 TV Raises $21 Million
The Boston-based startup has snagged Eric Kuhn, formerly head of social media at United Talent Agency, to run marketing.
Boston startup Layer3 TV has raised $21 million to make waves in the cable industry.
The next-gen cable provider announced Thursday that it has raised $21 million in series A funding to build a technology platform that will deliver video to consumers. The round was led by North Bridge Venture Partners and Evolution Media Growth Partners. North Bridge partner Jamie Goldstein will join Layer3 TV's board.
The startup has assembled a team of cable and tech veterans that includes CEO Jeff Binder, former partner at Genovation Capital and founder of VOD startup Broadbus Technologies, which Motorola acquired in 2006 for $181 million. Chief technology officer David Fellows also joins the company from Genovation Capital. Prior to working at the investment firm, he was CTO at Comcast and AT&T Broadband. Chuck Hasek, Layer3 TV's head of video technology, was previously at Time Warner Cable, where he was principal architect.
Layer3 TV has also snagged United Talent Agency's Eric Kuhn. Kuhn joined UTA in 2011 at the age of 23 as its head of social media, a role created specifically for him.
A member of Forbes' 30 Under 30 in Entertainment that year, Kuhn advised UTA's individual and corporate clients on digital strategy and investment opportunities. Kuhn was also an active liaison between L.A.'s entertainment and technology communities, publishing a weekly "Startup Sunday" email to spotlight early-stage technology companies. Kuhn previously oversaw social media for CNN, the NBA and CBS News.
The company remains tightlipped about its product prior to launch. Binder said in a statement that "Layer3 TV merges the television experience with customers' digital lives in ways that engage and enhance the programming and distribution ecosystems."
While the company currently lists its headquarters in Boston, it looks like the company could soon move to Denver, already home to Liberty Global. The Denver Post reports that the Colorado Economic Development Commission has approved $2.9 million in job growth incentive credits for Layer3, which plans on creating 321 new jobs in the city.