Live broadcasting company LiveU has raised $27m in a funding round led by new investor Lightspeed Venture Partners, with participation fromexisting investors Canaan Partners, Carmel Ventures and Pitango Venture Capital.
To date, LiveU has raised around $50m. It said the new capital would be used to “expedite its product development and global expansion”.
David Gussarsky, Lightspeed’s managing director, who joins LiveU’s board of directors, said, “We’ve been impressed by LiveU’s management team, consistent track record and strategic direction. The Company has built a strong, global customer base and become the benchmark for video-over-cellular uplink technology. We’re confident that LiveU will continue on its growth path, delivering innovative solutions that meet a real need, and we’re excited to be part of their journey.”
Founded at the end of 2006, LiveU offers customers end-to-end live video transmissions, with customers including NBC and BBC News.
Over the past two decades, the Lightspeed team has backed more than 200 consumer, enterprise and cleantech companies, including Blue Nile, Brocade, DoubleClick, eHealth, Flixster, Fusion-io, Informatica, Kosmix, LivingSocial, Lucky Pai, Nicira, Playdom, Provigent, Riverbed Technology, Serious Business, Solazyme, TaskRabbit, TutorVista, Virsa Systems, Waveset, and XtremIO. http://lsvp.com/.
LiveU has been used for breaking news and high-profile events, including the London 2012 Olympics, 2012 US Presidential Campaign, the 2011 Royal Wedding, Hurricane Irene, Japanese Tsunami, Academy Awards, Grammy Awards, Super Bowl, NBA All Star Weekend, Brazilian Carnival and 2010 World Cup in South Africa.
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