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 product offering.
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.
