iStreamPlanet Adds $8 Million in Financing
iStreamPlanet announced it has secured $8 million in new financing. The financing was led by QuestMark Partners, a leading expansion-stage venture firm, targeting highly differentiated, category creating companies.
The company will use the funding to accelerate the launch and sales of Aventus through its partner ecosystem, and to further propel development and deployment of the next versions of Aventus as driven by customer and partner feedback and requirements. Aventus is a cloud-based, live video workflow platform designed to address the challenges of streaming live events and live linear channels online to multiple platforms and devices.
“Our industry is changing rapidly due to the huge growth in connected devices, and our customers are both excited and challenged by the opportunity in live, multiscreen streaming video delivery,” said Mio Babic, CEO of iStreamPlanet. “This investment energizes our sales, marketing, and software engineering teams to bring innovative solutions to market that will help our customers meet these challenges and accelerate their live video strategies.”
One of the key advantages of Aventus is its ability to move the live video workflow from today’s hardware-dependent infrastructure to a software- and cloud-based infrastructure, providing scale on-demand, greater flexibility, and cost savings.
“Live streaming media is one of the fastest growing markets with strong consumer and industry demand for new products and services,” said Tim Krongard, partner at QuestMark Partners. “iStreamPlanet is well positioned as a market leader in this space with deep expertise in multiplatform live streaming, live video workflows, and cloud-based technologies.”