Envivio Closes on a $15 Million Financing Round
SOUTH SAN FRANCISCO, CALIF.: Envivio today announced that it secured $15
million in a mezzanine funding from venture capital and banking sources. The
round is half cash injection, half credit line.
Envivio didn’t reveal this list of investors. Previous investors include
Harbourvest, Atlantic Bridge and Samsung Ventures, leading a $25 million round
in 2008. They were joined by existing investors that included Crédit Agricole
Private Equity, Crescendo Ventures, Innovacom (France Telecom), Harbinger
Venture Management, Intel Capital, NTT Finance, Saints Capital, Sigma Designs
and Solidarity Fund QFL.
A $14 million second round in 2002 included participation by Bertelsmann,
France Telecom, Intel Capital, and Harbinger Ventures, a venture fund
affiliated to Mitac/Synnex group, in addition to Asian and European venture
funds Credit Lyonnais Venture Capital, Innova-com, Maton, and Paradigm.
Previous investors include France Telecom, Philips and Sigma Designs.
The current round brings Envivio’s total financing to around $72 million over a
10-year period, and brings management changes.
Board chairman, Gianluca Rattazzi takes the title of executive chairman.
Financial specialist Erik Miller was brought on as chief financial officer, and
Kevin O’Keefe becomes chief operating officer, replacing John McAdoo and Rich
The video compression specialist said it’s in service trials with the five top
cable providers in North America, and “experiencing 100 percent, year-over-year