Israel-based LiveU, the video-streaming provider that enables live transmissions over cellular networks, has announced that it has raised an impressive $27 million to hasten the development of new products and grow globally
Founded in 2006, LiveU provides end-to-end live video transmission, and counts NBC and the BBC among its customers. LiveU provides backpack and handheld devices, including 4G LTE/3G, HSPA+, WiMAX and Wi-Fi cellular links, which are optimized for maximum video quality based on the available network conditions. The company claims customers in more than sixty countries across five continents, and its technology was used during the US Presidential Campaign, with more than 300 units deployed on Election Day alone.
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“As we move from being a product-based to solutions-based company, this substantial investment will enable us to expand our mobile offerings, continue our technological innovation and extend our geographical presence,” says Samuel Wasserman, LiveU’s CEO. ”
The latest funding round was led by new investor Lightspeed Venture Partners, with participation by existing investors which included Canaan Partners, Carmel Ventures and Pitango Venture Capital.
“We’re proud that Lightspeed, with their extensive operating experience, is joining LiveU’s list of top-tier investors,” continues Wasserman. “This latest financing round signifies a strong vote of confidence in the company, enabling us to embark on an exciting new stage in LiveU’s development. With our expert team and extensive partner network, we’re confident that we will continue to lead the space in innovation and service.”
LiveU has raised $50 million to date.