Accedo, a provider of multi-platform applications for video, has raised $10 million in funding. The investor was SEB Private Equity. In addition to the investment, Accedo has named James Ackerman as board chairman. Ackerman’s work background includes roles at A&E, BSkyB, OpenTV, Documentary Channel and Broadway Systems.
Stockholm, June 27 2016. Accedo (http://www.accedo.tv/), the video experience pioneer has today revealed that it has partnered with SEB Private Equity, a Stockholm based private and growth equity fund, to accelerate its growth and further position itself as a Video Experience pioneer. Accedo’s global solution team, award winning products including Accedo AppGrid® and Accedo Application Sphere® and flexible, high quality managed services are trusted by leading media companies, operators and broadcasters world-wide.
The transaction allows early investors of Accedo, including Industrifonden and Acacia, to exit as part of their investment strategy, and adds a total of up to $10M in additional capital to be deployed for a continued growth and innovation.
“We’re excited to partner with SEB Private Equity to go to the next level. They share our vision of the market development and what a company like Accedo can deliver to truly transform the way consumers experience video services. We firmly believe that we’re still only in the beginning of the transformation of video consumption as we know it and we’re looking forward to continue our 12-year growth trajectory in the future.” says Michael Lantz, CEO and co-founder, Accedo.
Accedo has also appointed industry veteran James Ackerman, formerly of A&E, BSkyB, OpenTV, Documentary Channel and Broadway Systems, as a new Chairman of the Board.
“It’s rare to see a transformation of an industry such as what we’re seeing in the TV industry at the moment. The traditional value chain is evolving with new and existing players embracing OTT technologies to reach consumers and monetise video content in new and innovative ways. I believe that Accedo is perfectly positioned to continue to drive that change, help customers embrace the future opportunities and turn TV Viewers into video lovers. I’m thrilled to be working with Michael Lantz, Fredrik Andersson and the rest of the Accedo management team to fulfil Accedo’s potential” says James Ackerman, Chairman of the Board, Accedo.
“The Accedo team has taken the company to its current market leading position with fantastic products and solutions, an unparalleled understanding of the market dynamics and with a very talented global team. Since we have backed companies in several traditional industries revolutionized by cloud-based technology, we can see similar traits in media consumption and view Accedo as a thought leader of the video experience vertical. We’re looking forward to supporting them as we embark on the next step on this exciting journey”, commented Victor Lang, Chief Investment Officer, SEB Private Equity.
Accedo is a trusted Video Experience Transformation pioneer turning TV viewers into video lovers. We’re delighting the lives of video consumers by the hundreds of millions. The company was founded in 2004 on a simple observation: emerging technology will transform how people watch television and consume video, but networks, operators, broadcasters, brands and new market entrants will struggle to keep up with the complexities of the new environment and ecosystem.
This insight led Accedo’s founders Michael Lantz and Fredrik Andersson to create a portfolio of customer-centric video solutions that: shorten time-to-market, improve operational agility, and boost monetisation capabilities. Over the years, Accedo has earned the trust of over 350 of the world’s leading premium video-service providers. Customers to whom two goals are paramount: explore new opportunities to monetise video and transform video services to meet rapidly- changing consumer expectations. For more info, please see www.accedo.tv,
Twitter: www.twitter.com/accedotv, Facebook: www.facebook.com/accedo.smarttv.
About SEB Private Equity
SEB Private Equity invests capital from top-tier third party institutions and is a part of Skandinaviska Enskilda Banken’s (SEB) investment management business. Established in 1856, SEB is one of the major Nordic banks with strong historic linkage to the industry. Since its formation in 1998, SEB Private Equity has become a leading global private equity investor based in the Nordics focusing on developing companies both operationally and strategically by partnering with entrepreneurs and managers. SEB Private Equity has managed to build a highly networked and experienced team with the skill-set to source proprietary investment opportunities from its networks, execute on transactions, strategically and operationally improve the company fundamentals and as such create value for investors over the long-term.
Combined over the various investment strategies, SEB Private Equity manages about USD 4bn in capital on behalf of clients. The investment in Accedo is made by the fund SEB Private Equity Opportunity III.
In the tech and media industry, recent investments by SEB Private Equity range from mature companies such as Sintec Media and eFront, and early investments in growth-oriented companies such as WeWork, iZettle, GrubHub, LearnVest, Boku and Yello Mobile. For more information, please visit http://www.seb.se/