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Deutsche Telekom puts money into social TV player Kwarter
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US firm Kwarter, a startup based in San Francisco which partners with broadcasters and TV operators to build second-screen apps, has closed a new round of funding worth US$4 million with T-Venture, the venture arm of Germany’s Deutsche Telekom, and Kinetic Ventures.
According to TechCrunch, the company has already partnered with major broadcasters including Turner Broadcasting and big brands like drinks manufacturer InBev, and will be using the new funding to help grow its platform and attract the attention of new partners.
This latest round of funding brings the total raised by Kwarter to US$ 5million, including US$1 million in convertible notes. The company was founded in 2011 and now expects to more than double its employee base from the current nine to over 20.
It will be up against some increasingly powerful players though: more established names in the social TV space include GetGlue and Zeebox, and there is a wide variety of app developers that are eschewing the B2C model in favour of pitching their services directly to brands and broadcasters.
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