Technology

Clearleap Adds $20 Million in Funding

Series C round led by Susquehanna Growth Equity 11/13/2013 07:31:00 AM Eastern

Multiscreen video technology provider Clearleap has announced that it closed a $20 million round of new funding, which was led by Susquehanna Growth Equity and included participation from Clearleap's existing investors: Trinity Ventures and Noro-Moseley.

The new round brings its total financing to $36 million.

The company noted that the new capital comes at a time when it recently expanded into the European market and that the money will be used to speed up Clearleap's domestic and international expansion.

Clearleap's platform for multiscreen video has been used by companies such as HBO, Verizon, Time Warner Cable, the Food Network, and Travel Channel.

"Consumer demand for better, more varied and more flexible viewing options has been the catalyst for massive change in the TV industry, and what we're seeing today is really just the beginning," argued Clearleap CEO Braxton Jarratt in a statement announcing the investments. "Our goal is to become the technology partner of choice for every content owner or service provider looking to supercharge their efforts to deliver video across every screen. This round of funding enables us to realize this goal much faster and cement our reputation in this space."

The privately held tech vendor has global headquarters in Atlanta with offices in New York City and San Francisco. Its European headquarters are in Amsterdam, Netherlands.

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