Envivio raises $15 million in venture capital money
August 2, 2010
Envivio has secured $15 million in a mezzanine investment from venture capital and banking sources, enabling the company to continue its penetration into the video-over-IP market. According to Envivio founder/president and CEO Julien Signès, Envivio is experiencing 100 percent year-over-year sales growth. The company has recently expanded distribution channels and relationships with Ericsson in North America and Europe; Huawei in Asia and the Middle East; SeaChange in the United States and international markets; and Axcera and LARCAN in the United States for opportunities with national and local broadcast TV stations.
The company has also beefed up its roster of executives: Erik Miller, a financial executive who has listed two companies on the NASDAQ, has joined as CFO; Kevin O’Keefe, who has experience scaling field operations at tech companies to $300 million, is now COO; and Envivio’s Chairman of the Board Gianluca Rattazzi, who has filed successful IPOs at three prior companies, has taken an increased role at the company as executive chairman to assist with corporate and business development.