Toronto's Polar Mobile today announced a $6 million funding round led by Georgian Partners.
The new funding adds to more than $3 million invested to-date from private investors and is being used to expand globally and launch MediaEverywhere, a new product line that they hope will transform the media industry.
“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.”
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.
The world's largest media companies work with Polar today, including CBS Interactive, Conde Nast, Sports Illustrated, Shanghai Daily, Future Publishing, Rogers Media, Khaleej Times, TC.Media and The Wall Street Journal. Polar is a go-to partner for top-tier publishers, broadcasters and sports media brands, having worked with over 380 media brands in 12 countries and served over 1.6 billion page views to 11 million users to-date.
Headquartered in Toronto, with a presence in San Francisco and Dubai, Polar expects to double their team from 40 to 80 people in 2012 while opening offices in New York and London. MediaEverywhere will launch later in 2012 and be first rolled out to existing Polar customers.