Financial Technology

Financial Technology

August 06, 2013

iStreamPlanet Secures $8 million in New Funding from QuestMark Partners

iStreamPlanet, a company specializing in live streaming video solutions has secured $8 million in new financing from QuestMark Partners.

QuestMark Partners, an expansion-stage venture firm, will finance iStreamPlanet and these funds will be used 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, a cloud-based, live video workflow platform, has been designed to address the challenges of streaming live events and live linear channels online to multiple platforms and devices.

Aventus is beneficial in many ways as it helps 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.

Mio Babic, CEO of iStreamPlanet, said, “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, 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.”

Tim Krongard, partner at QuestMark Partners said in a statement, “Live streaming media is one of the fastest growing markets with strong consumer and industry demand for new products and services, 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.”

Edited by Rich Steeves

blog comments powered by Disqus