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Hillcrest Labs Clicks on $25 Mn
By siliconindia
Maryland: Hillcrest Labs, Maryland-based company which markets graphical navigational tools for television sets said it closed on $25 million in funding led by investment management firm AllianceBernstein.
Hillcrest, raised its overall investment tally to $50 million. The company plans to use the funding to add to its portfolio of pointer-based remote control applications.
Hillcrest markets software that overlays a zoomable graphical user interface on TV sets through which viewers, armed with a device that is a cross between a PC mouse and a TV remote control, can navigate their way around on-screen entertainment guides.
"We are bringing a mouse coupled with a GUI to the TV just as Steve Jobs did for the PC 20 years ago," said Andy Addis, Hillcrest's Executive VP marketing.
"In the exploding world of digital media, the old up-down, left-right, text-based TV navigation has reached the end of its useful life," he added.