Israeli-American startup TriPlay, the next-generation personal cloud company, and developer of MyMusicCloud and MyDigipack, has raised $11 million in a Series D round, funded by Fortress Investment Group LLC (NYSE: FIG) managed-funds, and by existing investors, Kenges Rakishev and Tamir Koch, TriPlay founder and CEO.
TriPlay is a privately held company with offices in New York and Israel. Fortress Investment Group is a leading global investment firm with approximately $67 billion in assets under management.
TriPlay will use this latest round of funds to support its marketing efforts, accelerate its research and development and grow their existing base of over one million users of its open, next generation personal cloud services. MyMusicCloud and MyDigipack are universal applications above the cloud that allow users free unlimited storage and access to their music, photos and videos on any device, operating system, file format and network anywhere in the world.
“As competition between device makers, cloud storage and wireless providers heats up, consumers are increasingly concerned about universal access to their valuable and carefully curated content. As they are applications above the cloud, this will never be an issue with MyMusicCloud and MyDigipack. With the support of our investors, our new marketing strategies will focus on informing users worldwide of this very important feature,” said Koch.
TriPlay, the creator of the first patented technology on cross-platform messaging and sharing, will also utilize the funds to fortify the strength of its technology by procuring compatible and complementary technologies invented in the research programs at Intellectual Ventures, the global leader in the business of invention.
“Ten years ago we developed and launched the very first cross-platform messaging technology that is central to much of today’s communications and it is vital that we not only protect it, but strengthen it with the purchase of supportive technologies,” concluded Koch.
TriPlay is a premier cloud services company, enabling users worldwide to easily access, manage, share and enjoy their music, photos and videos across any computer, mobile phone, tablet smart TV or wearable.
Innovative technologies that keep people connected
In today’s digital world, more than ever, people rely upon digital media to compliment their everyday activities – listening to music, looking at photos, watching videos – have become integrated into our lives and not a dedicated activity. TriPlay applications take the user experience to a new level by providing unrestricted access across multiple platforms, automating synchronization and other processes, and ultimately making digital media applications easier to enjoy. TriPlay technologies: keep people connected, sharing experiences, building relationships and preserving memories.
As the storage wars began, with competing online backup companies offering per-gigabyte, tiered pricing plans, TriPlay’s belief was then and remains now, that cloud media storage should be unlimited and free. As one of the first companies to offer free and premium products that centered around access and syncing rather than storage, TriPlay’s focus is on context-driven applications that distance themselves from the cloud-connected file/folder system structure of many competing products.
How it began
In 2004, Tamir Koch, a serial entrepreneur and proud dad, wanted to share photos of his young children with his mother who lived abroad. Like most of us, Tamir’s mom is always on the move: from home to the office, at friends, running errands and the like. So Tamir didn’t know if he should send the photos to her mobile or laptop. But he did know that he wanted his mom’s viewing experience to be seamless. Tamir envisaged a platform that would allow him to send the images to both her PC and mobile phone, wherever the user is.
Tamir instantly recognized he had to develop a multimedia sharing platform that could be applied to music, photos, videos and mobile messaging. He also knew he had to make this platform available to the five billion mobile subscribers around the world bringing interaction to a whole new level. And so, TriPlay was born. True to its mission, TriPlay continues to develop digital media applications that make living a digitally integrated life more meaningful. TriPlay – Next Generation Personal Cloud.
TriPlay products are available worldwide in 24 different languages, with a user base of 1 million and a music catalogue of over 23 million songs. Supported devices include all smartphones, computers and tablets as well as smart TVs and wearables.
Fortress Investment Group LLC (NYSE: FIG), provides its services to pooled investment vehicles, pension and profit sharing plans, corporations, institutional managed accounts and structured products, banking or thrift institutions, investment companies, charitable organizations, and state or municipal government entities. It launches and manages hedge funds, balanced mutual funds, and private equity funds. The firm invests in the public the private equity and alternative investment markets across the globe. It invests in distressed and undervalued assets and tangible & intangible assets such as real estate, capital assets, natural resources, and intellectual property. The firm’s alternative investments include investment in currency, commodity, real estate markets, and distressed real estate loan acquisitions. It employs value strategy to make its investments. The firm employs a fundamental analysis with bottom-up approach to create its investment portfolio.
Fortress Investment Group LLC was founded in 1998 and is based in New York, New York with additional offices in United States, Europe, Asia, and Australia.