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 Stanfield, respectively.

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 sales growth.”
-- DMcA