SeaWell Networks Inc. has closed on $3 million in additional Series B financing from existing investors BDC Venture Capital and Northwater Capital Intellectual Property Fund LP 2. The company’s Series B round now totals $8 million. SeaWell Networks’ technology is designed to help service providers manage the delivery of HTTP adaptive bitrate streaming video to any device or platform.
SeaWell Networks Inc. today announced the newest version of its core product offering, Spectrum, as well as $3 million in additional Series B investment from existing investors BDC Venture Capital and Northwater Capital Intellectual Property Fund LP 2. This increases the Series B round raised to $8 million.
Spectrum, an adaptive bitrate (ABR) management solution, simplifies video delivery and enables new ways for service providers to monetize their content. A demo, in which Spectrum 2.0 delivers targeted ad campaigns into a seamless ABR stream, will be featured at the NAB Show, booth SU10802, April 16-19 in Las Vegas.
Spectrum gives service providers control over network-based ad insertion which allows for a smooth transition between episodic content and ads, making the experience more TV-like. This encourages longer viewing times and raises the likelihood of click-through, while enabling real time data collection and measurement. Spectrum personalizes each session by inserting ads into the video based on an individual user’s behavior and creates a video stream immune to conventional ad blocking technologies.
“As the advertising delivery ecosystem becomes more complex, Spectrum responds to this challenge by repackaging files for a particular user and device for each session, enabling operators to efficiently and cost-effectively expand existing VOD and linear advertising models to any IP device,” said Brian Collie, CEO and Co-Founder of SeaWell Networks.
An important output of Spectrum’s subscriber management capability is the wealth of user and network related data on what content was delivered to the viewer on a per session basis. With this data, Spectrum provides unique control of what content is delivered and can be easily configured to provide business model flexibility (subscription, pay-as-you-go, metered, etc.).
“As video becomes more personal and targeted, the ads that accompany the video must also become more personalized,” said Nazmin Alani, Partner, BDC Venture Capital Diversified Fund. “Our additional investment in SeaWell Networks is based on our confidence that Spectrum will help service providers to personalize each viewer’s experience, driving better value for the viewer and enabling service providers to increase the revenue earned per video stream.”
Come and join SeaWell Networks at NAB, booth SU10802, for a demonstration.
About SeaWell Networks
SeaWell Networks Inc. provides software for service providers to manage and optimize the delivery of HTTP adaptive bitrate (ABR) streaming video to any device or platform. Their intelligent ABR management solution, Spectrum, simplifies the delivery of video while enabling new ways to monetize content. Spectrum combines ad insertion capabilities and stream management for the most personalized video experience available.
About BDC Venture Capital
BDC Venture Capital has been involved in venture capital since 1975 and is a major venture capital investor in Canada. Active at every stage of the company’s development cycle, from seed through expansion, BDC Venture Capital focuses on technology-based businesses that have high growth potential and that are positioned to become dominant players in their markets. To date, it has invested in more than 400 companies with investments totaling over $1.16 billion in the life sciences, telecommunications, information and advanced technology sectors, as well as commitments of $253 million in 19 funds. Visit www.bdc.ca for more information.
About Northwater Intellectual Property Fund LP 2
Northwater Intellectual Property Fund LP 2 is managed by Northwater Capital Management Inc., a leading, privately held, investment management company. With offices in Toronto and Chicago, Northwater focuses on investments in intellectual property and intellectual property rich companies. Northwater provides financing, counsel and connectivity to its portfolio of intellectual property investments to speed their projects to market and to defend their protected space.