Envivio lands $25M in new funding round
Envivio has closed $25 million in new venture capital funding. Envivio has also appointed John McAdoo as CFO and Richard Stanfield as COO of the company.
Envivio will use the additional funding to extend its technical leadership in IP video delivery and to increase sales and marketing activities worldwide, the company said.
The funding round was co-led by private equity firms Harbourvest and Atlantic Bridge, as well as Samsung Ventures. These investors are joined by others, including Crédit Agricole Private Equity, Crescendo Ventures, Innovacom (France Telecom), Harbinger Venture Management, Intel Capital, NTT Finance, Saints Capital, Sigma Designs and Solidarity Fund QFL.
Samsung Ventures Investment Manager Michael Jeon said: "The video delivery landscape is changing before our eyes, with consumers demanding services that accommodate their dynamic lifestyles. Operators need technical innovators like Envivio to help them make the most of this opportunity. Envivio's solutions resonate with operators and are proving themselves in the field in some of the most advanced three screens deployments around the world."
Prior to joining Envivio as CFO, McAdoo spent eight years at ARM Holdings in a number of roles, including group financial controller and vice president of finance and administration. Stanfield, now Envivio’s COO, has more than 20 years of sales, marketing and field operations experience with five successful back-to-back technology start-up companies in the communications and digital media sectors.
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