07.28.2010 04:00 PM
Envivio Announces $15 million Financing Package
Envivio, a California-based video over IP delivery company, has announced that it has secured $15 million in backing to fuel expansion of the firm after a record growth in sales. Corporate enhancements include a strengthening of Envivio’s management team, with the addition of Erik Miller as CFO and Kevin O’Keefe as COO.
“Envivio has been ahead of the video delivery technology curve for years, which is why we have been the choice when operators look to shake up their markets with innovation,” said Julien Signès, co-founder, president and CEO of Envivio. “We have created a unified platform that delivers premier quality TV service to any device with a screen. Now that our vision is fast becoming the requirement for customers in all segments, we are the de facto IP video technology provider for over 250 of the world’s leading service providers.”
The funding is in the form of a mezzanine investment from venture capital and banking sources. Envivio has expanded its distribution channels on a global basis and is very actively involved in the North American cable television market.