Today Layer3 TV, a company that will operate in the cable space, announced that it has raised a $21 million Series A round of capital led by North Bridge Venture Partners and Evolution Media Growth Partners.
The company bills itself as a “next generation cable provider,” which is clear as mud. Its executive leadership is heavy on people, unsurprisingly, with experience in the cable and broadband industries, including stints at Time Warner Cable, ATT Broadband, Comcast, and others.
The company was previously operating in stealth.
In its release, the CEO of the firm, Jeff Binder, stated that “Layer3 TV merges the television experience with consumers’ digital lives in ways that engage and enhance the programming and distribution ecosystems. We intend on delivering that promise.” Again, unclear.
Still, with a shiny $21 million, perhaps we’ll see a product soon.