US-based Envivio has raised US$15m in mezzanine investment from venture capital and banking sources to drive investment in its core video over IP business.
Further financial details were not disclosed although the company said that proceeds would be used…
US-based Envivio has raised US$15m in mezzanine investment from venture capital and banking sources to drive investment in its core video over IP business.
Further financial details were not disclosed although the company said that proceeds would be used to expand the business in order to cope with the increased demand. The company reported 100% year-on-year sales growth in 2009.
The group, which was formed in 2000, streams video content to an array of devices including mobile phones, set top boxes and PCs. It counts a number of cable and satellite television providers among its customers including BSkyB and Canal+.
Envivio has also recently bolstered its management team, bringing in finance veteran Erik Miller as CFO and Kevin O’Keefe as COO. Gianluca Rattazzi, Envivio’s chairman, has also taken an increased role at the company as executive chairman to assist with corporate and business development.
