Just a few days after one social TV startup hit the dead pool, another is raising new funding. Miso announced Thursday that it’s raised a $4 million financing round led by Khosla Ventures, with participation from existing investors Google Ventures and Hearst Interactive Media.
Miso has spent the last year experimenting with different social elements, trying to figure out which work and which don’t. It’s also struck some partnerships with operators like DirecTV and AT&T’s U-verse that let its apps know what viewers are watching without having to “check in” to shows. Now it’s looking to leverage those partnerships and its platform to allow content partners to create engaging experiences through its mobile apps.
While investors are betting on Miso, some of its competition has fallen on hard times: Miso’s funding comes three days after competitor BeeTV announced it was shutting down services and attempting to sell off all assets and IP. And competitor Philo was acquired by LocalResponse in what seemed like a fire sale earlier this year.
We’ve seen some consolidation in the social TV app segment already, but Miso CEO Somrat Niyogi expects more of the same in 2012, as competitors either shut down or get acquired. The good news for Miso, at least, is that with the most recent funding it’s gotten some runway and validation from a pretty well-regarded investor. Now it just needs to take that money and execute on its plans.
Miso has 12 employees currently, but Niyogi said the company is likely to double headcount in 2012. Since being founded in 2010, the company has raised a total of $6 million, including a $1.5 million round in January.