TriPlay, a U.S./Israeli-based developer of cloud services that lets people consume music and other media across different devices, is today announcing a Series C round of $5 million to take its technology into new and emerging markets in Asia and Europe, and hire more people, including a CMO. The $5 million comes from new investor Kenges Rakishev, a Kazakh businessman who has made millions in petrochemicals and more and is now using some of the proceeds to back tech companies. The company has raised $15 million to date, with other backers including angel investors and the CEO and founder Tamir Koch.
Users of TriPlay’s cross-platform streaming services number in the hundreds of thousands of users; with partners like Pelephone Musix and Conduit SendSMS, the figure goes up to 11.8 million. Now, the idea behind extending to emerging markets is that smartphone and tablet takeup is in earlier stages, which feature phones still driving sales for companies like Samsung and Nokia. This is rapidly changing, and given that smartphones and tablets have been major driver for cloud service uptake, it’s a good moment to pick up new users who are just starting to need those kinds of solutions.
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