Silicon Valley venture firm Panorama Capital has led a $10m Series D funding round for Skyfire, an investment that will help finance the US-based mobile video optimisation company’s plans to expand into Europe and Asia.
Existing investors Verizon Ventures, Matrix Partners, Trinity Ventures and Lightspeed Venture Partners also took part in the round.
The company said it hoped to grow its London and Silicon Valley offices and hire more staff to explore opportunities in Japan, eastern Europe, south east Asia and Australia.
Panorama founding partner Shankar Chandran said, “With the current boom in mobile video, we believe Skyfire’s cloud-based data optimisation technology represents a disruptive advancement that will change the economics for wireless operators around the world.”
Skyfire’s Rocket Optimizer claims to provide wireless operators with data savings averaging 60 per cent for videos and 50 per cent for images.
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