North Bridge Ventures co-leads $21m Layer3 TV funding round


TV television cableNorth Bridge Venture Partners has co-led a $21m financing round for next-generation cable provider Layer3 TV alongside Evolution Media Growth Partners.

Evolution is a joint venture between private equity firm TPG Growth and Evolution Media Capital.

North Bridge said partner Jamie Goldstein would join the Layer3 TV board of directors following the round.

Evolution Media Capital founder Rick Hess said, “It was important for us to back a company that is programmer friendly.

“Layer3 TV is the right partner for the entertainment industry as they will enhance programmers’ existing business models and create new non-disruptive revenue streams while also delivering a compelling user experience to consumers.”

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