Compression vendor Envivio, which has gained traction with its encoding systems for IPTV and mobile platforms, says it has closed $15 million in new financing, in the form of a mezzanine investment from venture capital and banking sources.
The South San Francisco, Calif.-based firm says it is experiencing 100% year-over-year sales growth and now works with 250 service providers worldwide. It has entered into trials with five major North American cable operators and expanded distribution channels and relationships with several major partners, including 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, mainly for opportunities in mobile DTV. The company has also introduced a new category of Over the Top (OTT) solutions, which are being used by Sezmi in the United States and FetchTV in Australia.
The company has a new CFO in Erik Miller and new COO in Kevin O'Keefe, while Chairman of the Board Gianluca Rattazzi has taken an increased role as Executive Chairman to assist with Corporate and Business Development.
"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," said Julien Signès, Envivio's co-Founder, President and CEO, in a statement.