TORONTO, ONTARIO, Leader in multi-platform video delivery software for network operators, announced that it has secured $5 million in Series B investment. The round was led by Northwater Intellectual Property Fund LP 2 and included participation by BDC Venture Capital.
SeaWell Networks Inc., a leader in multi-platform video delivery software for network operators, announced today that it has secured $5 million in Series B investment. The round is led by Northwater Intellectual Property Fund LP 2 and included participation by BDC Venture Capital. The additional funding will be used to support ongoing trials with lead customers, and to expand SeaWell's sales and distribution capability while continuing to augment the development of the company's core product offering, Spectrum.
The overwhelming demand for online streaming video has posed one of the greatest challenges for network operators. Spectrum's solution provides a superior user experience by enabling the delivery of adaptive bit rate (ABR) streams to multiple devices, while giving network operators unprecedented network and session control. In addition, Spectrum provides new ways for network operators to monetize content, allowing them to dynamically insert unique ads into ABR streams based on the viewer's session information and subscriber profile parameters, including device type and zip code.
Colin Dixon of TDG Research noted that "the reality of subscriber video services today is that they must deliver to multiple screens. This fact will lead to an explosion of activity from network operators as they develop and deploy TV Everywhere products. With a solid management team and market-tested adaptive streaming products, SeaWell is well positioned to help them do it."
"This is an important step for SeaWell and demonstrates continued support from our founding partners," said Brian Collie, co-founder and CEO of SeaWell Networks. "As the industry continues to take huge strides toward broadband video, our vision of putting intelligence into the network comes into focus."
About SeaWell Networks
SeaWell Networks Inc. provides software for service providers to manage and optimize the delivery of HTTP adaptive bit rate (ABR) streaming video to any device or platform. Our intelligent ABR management solution, Spectrum, simplifies the delivery of video while enabling new ways to monetize content. Spectrum combines ad insertion capabilities and on-the-fly repackaging for the most personalized video experience available.
About Northwater Intellectual Property Fund LP 2
Northwater Intellectual Property Fund LP 2 is managed by Northwater Capital Management Inc., a leading, privately held, investment management company. With offices in Toronto and Chicago, Northwater focuses on investments in intellectual property and intellectual property-rich companies. Northwater provides financing, counsel and connectivity to its portfolio of intellectual property investments to speed their projects to market and to defend their protected space. For more information please see www.northwatercapital.com
About BDC Venture Capital
BDC Venture Capital has been involved in venture capital since 1975 and is a major venture capital investor in Canada. Active at every stage of the company's development cycle, from seed through expansion, BDC Venture Capital focuses on technology-based businesses that have high growth potential and that are positioned to become dominant players in their markets. To date, it has invested in more than 400 companies, with investments totaling over $1.16 billion in the life sciences, telecommunications, information and advanced technology sectors, as well as commitments of $253 million in 19 funds.
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