Envivio Receives $15M in New Financing
Video-over-IP company Envivio announced today that it's secured $15 million in a mezzanine investment. The new funds come from venture capital and banking sources. The company says it will use the funds to "extend its leadership position in the video-over-IP market."
Envivio's strengths have led to the successful fund-raising round. The company has been active in the cable market, and has been a part of new services and service trials for North America's top five cable companies. Envivio says it is enjoying 100 percent year-over-year sales growth.
The company has also recently bolstered its executive management team. Erik Miller, a financial executive with 20 years' experience at technology companies, has signed on as the CFO. Kevin O'Keefe, who has experience growing tech companies, is the new COO. Envivio's chairman of the board, Gianluca Rattazzi, has taken the increased role of executive chairman.
"Envivio has been ahead of the video delivery technology curve for years, which is why we have been the choice when operators look to shake up their markets with innovation," says Julien Signès, Envivio's co-founder, president, and CEO. "They all turn to Envivio because we enable them to deliver an excellent quality experience that appeals to subscribers using any combination of traditional TV screens, smartphones, PCs, and the ever-expanding list of new devices like the iPad, while consistently delivering the best video quality and the highest level of investment protection."
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