NEW YORK, NY, Streamroot, pioneer in distributed over-the-top (OTT) video delivery solutions, announced today that the company has secured an additional $3.2 million in funding.
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This new funding brings the company's total financing to $6 million. Contributions in this round came from premier international firms including Partech Ventures, Techstars Venture Capital Fund, Verizon Ventures and R/GA.
Founded in early 2014, Streamroot developed the first webRTC-based peer-to-peer delivery technology for online video publishers and has quickly risen to become the frontrunner in distributed OTT delivery solutions.
"Traditional server-based content delivery (CDN) is no longer adapted to colossal worldwide audiences and the demand for ever higher definition," explains Streamroot Co-founder and CEO Pierre-Louis Theron. "Streamroot, meanwhile, scales naturally to audiences anywhere of any size. Using intelligent mesh networks and dynamic multi-sourcing of content, we offer both a more reliable and cost effective solution for broadcasters, and heightened quality for users."
Since its seed round of funding, Streamroot has multiplied the traffic managed on its platform by 500, and now powers over 400 million video sessions every month. The company's revolutionary approach has drawn widespread industry recognition and brisk adoption from high-profile media groups including Dailymotion, Canal+, Eurosport (part of the Discovery Communications group), and Russia Today. Streamroot has also become the first solution of its kind to offer cross-device compatibility across desktop, mobile and a range of set-top boxes.
"Today we are proud to be powering some of the world's largest live and VOD streaming platforms, delivering 50 to 80% of customers' traffic through our distributed delivery infrastructure," Theron adds.
For Dailymotion, a customer since 2016, Streamroot is a crucial component of the service's delivery infrastructure: "Ensuring robust video delivery to millions of users is of paramount importance to Dailymotion," says Pierre-Yves Kerembellec, VP Architecture. "Streamroot offers us this possibility. Their technology scales naturally to exploding audiences and to unpredictable traffic spikes, whilst at the same time keeping our delivery costs down and ensuring excellent quality."
The fast-growing startup has won new support from leading technology and venture firms. Techstars Venture Capital Fund invested in the startup, along with Verizon Ventures and R/GA, which contributed via their newly founded Media Tech Venture Studio.
In addition, Streamroot drew continuing support from existing investor Partech Ventures. "Streamroot has become an indisputable force in its industry," explains Romain Lavault, General Partner at Partech Ventures in Paris. "The company is well on its way to revolutionizing how video is delivered over the internet; we firmly stand behind them in this pursuit."
Armed with fresh capital from global investors, Theron looks towards the future: "Streamroot has laid the groundwork to reshape OTT video delivery as we know it, and we are now working to build the largest and most reliable delivery infrastructure in the world without relying on a single server. These funds will allow us to accelerate our development and tackle the monumental challenge of bringing TV-grade quality to billions of viewers across the world."
Streamroot is a leading provider of innovative OTT video optimization technologies for content publishers, network service providers and enterprise customers. Its robust, reliable and lightweight distributed network architecture offers improved quality of service, global reach and unique fixed-fee economics. Streamroot technologies are based on open standards such as WebRTC, Media Source Extensions and HTML5, and are widely adopted by broadcasters around the world. Founded in 2013 in France, the company today benefits from VC funding and serves premier media groups from its Paris and New York offices.