Summit Partners Invests in Wowza Media Systems
March 28, 2012
EVERGREEN, COLO. and
PALO ALTO, CALIF.: Wowza Media Systems LLC announced that Summit Partners
completed a minority investment in the company. This investment positions Wowza
for continued global growth and opens up opportunities to expand the company's
Wowza Media Systems’ CEO and cofounder David Stubenvoll and
chief technology officer and cofounder Charlie Good remain majority owners of
the company, and lead the Wowza board of directors. Greg Goldfarb, a Summit
Partners managing director, has joined the board. The transaction was completed
on March 1, 2012. Financial terms were not disclosed.
Summit Partners, which has raised more than $14 billion in
capital since inception, has invested in a number of industry-leading companies
in the software, Internet, and media sectors.
Founded by Stubenvoll and Good in late 2005, Wowza delivers
media server software for multiformat streaming across all screens. Since the
release of its first version of Wowza Media Server software in 2007, the
company has reached more than 100,000 licensees in more than 150 countries. Wowza
says its customers include service providers, radio and TV broadcasters, media
properties, enterprises, educational institutions, OEMs, government agencies,
and other organizations.