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Susquehanna sees profit in video screens, leads $20m Clearleap financing

13 Nov 2013

ClearleapSusquehanna Growth Equity has led a $20m financing round for multi-screen video logistics business Clearleap.

The latest round, which was also backed by existing investors Trinity Ventures and Noro-Moseley, bring the total outside funding raised by Clearleap to $36m.

Clearleap’s products are aimed at the television industry, and has picked up business in recent years from companies including HBO, Verizon, Time Warner Cable and the Food Network.

Susquehanna managing director Scott Feldman said, “The proliferation of internet-connected devices with video streaming capabilities has caused content producers and distributors to seek new solutions to help them efficiently manage their multiscreen, TV-everywhere experience.

“Clearleap has developed a software platform that offers purveyors of video content a cost effective, scalable alternative to high fixed-cost, hardware-dependent solutions.

“[CEO Braxton Jarratt] and his team are leading this massive shift in spending with a true cloud-based, SaaS solution that we expect to set a new standard in the video content and subscriber management industry.”

Earlier this year Susquehanna and Ribbit Capital  threw their support behind credit monitoring business Credit Karma by leading its latest fundraise.

The company raised $8m in a Series B round, which was also backed by existing investor Felicis Ventures, taking the total funds raised to date to $33.5m.

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