Stream5, a Munich-based provider of online video technology, has raised a “seven-figure sum” of new VC funding. KfW and angel Klaud Wecken were joined by return backers DuMont Ventures and Tiburon Partners.
stream5, one of Europe’s leading online video technology providers, has secured fresh capital. Under the leadership of existing shareholders, DuMont Venture and Tiburon Partners, new investors KfW and private investor Klaus Wecken have climbed aboard. The financing involved is a seven-figure sum. stream5 will use the capital to finance the continuing development of its technologies. The Munich enterprise has set itself the goal of becoming the number one provider of this technology.
Private investor Klaus Wecken says: “It’s fun to invest in such a competent team, especially when it’s in an exciting field of the future, such as Internet TV and online video.” An opinion shared by Jorg Binnenbrucker, Managing Director of DuMont Venture: “Since our initial investment in May 2008 we have been supporting this dynamic enterprise in its conquest of the Internet TV market. We are very confident that stream5 will continue its success story.” Binnenbrucker goes on to note that “Web TV is bound to become ever more prevalent as a new marketing channel, and stream5 is undoubtedly among the trendsetters in Internet TV and video, both on a technological and conceptual level.”
“Right from the start stream5 impressed us with their technological approach,” notes Andreas Brinkrolf, a director of Tiburon Partners. “Its successful progress has vindicated our initial decision to invest in stream5 over two years ago.”
The new tranche of financing means that stream5 will be able to continue pursuing its growth targets in the long term. ‘Our goal is…
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