Stream5, a major European online video technology provider, has secured fresh venture capital.
Existing shareholders DuMont Venture and Tiburon Partners oversaw new investors KfW and private investor Klaus Wecken buying into the company.
Although the size of the investment has not been disclosed it is “a seven-figure sum”.
Jorg Binnenbrucker, managing director of DuMont Venture, said, “Since our initial investment in May 2008 we have been supporting this dynamic enterprise in its conquest of the internet TV market. We are very confident that stream5 will continue its success story.
“Web TV is bound to become ever more prevalent as a new marketing channel, and stream5 is undoubtedly among the trendsetters in internet TV and video, both on a technological and conceptual level.”
The new tranche of financing means that stream5 will be able to continue pursuing its growth targets in the long term.
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