Envivio gathers another $15M in funding
Envivio has collected $15 million from venture capital and banking sources. Reporting record unit orders and 100 percent year-over-year sales growth, the company expects to use the mezzanine funding to build on its recent successes.
Envivio, an encoder and IPTV specialist, has been active in integrating over-the-top content with existing services. It is providing the technology behind the new Sezmi service, for example.
Customers involved in providing mobile video include BSkyB, Chungwha Telecom, Orange and StarHub. Customers providing Internet TV services include Portugal Telecom and Turk Telecom subsidiary TTNET.
The company said it has also beefed up its management ranks in recent months, hiring Erik Miller as CFO and Kevin O'Keefe as COO.
Envivio claims "extensive involvement" in new service introductions and trials for the top-five cable service providers in North America.
Julien Signès, Envivio's co-founder, president and CEO, said, "Cable companies and telecoms are expanding into multi-screen services – as well as each other's markets – and Envivio has an active role in all the major trials of their next-generation services."
The company has entered into partnerships with Ericsson in North America and Europe, Huawei in Asia and the Middle East, SeaChange in the U.S. and multiple international markets, and Axcera and Larcan in the U.S.