LiveQoS said Tuesday that it has secured $4 million in Series C financing. Canadian venture capital firm Miralta Capital led the round. Based in Ottawa, LiveQoS is the maker of IPQ, a framework that maximizes the quality of controlled and uncontrolled networks according to link conditions and application requirements. Update: The company, which was formerly known as IPeak Networks, in October 2013 acquired Ottawa-based Openera Inc, a cross-cloud content manager that was also venture-backed.
OTTAWA, ON–(Marketwired – Nov 5, 2013) – On the heels of announcing its acquisition of Openera, LiveQoS®, the market leader in Quality of Service (QoS) for mobile devices, announced it has closed a $4 million Series C round of financing led by Miralta Capital. The funds will be used for development and launch of LiveQaaS™, a mobile Quality as a Service® platform.
“LiveQoS’s traditional deployment model is on-premise. Now we’ve built the powerful capabilities of our IPQ™ QoS framework to be delivered as a service,” explained LiveQoS® CEO, Martin Horne. “This will enable us to meet the growing demands of mobile app developers and mobile device manufacturers who want to deliver the best quality of experience to their end-users. We are already working with some well-known companies and are excited for our further development.”
“The concept of mobile Quality as a Service® just made sense. We know this has enormous market potential and is a sound investment,” said Tom Kaneb, Managing Director from Miralta Capital. “The bar is being set increasingly high in mobile. Users expect apps to run smoothly, react responsively, and without lag. LiveQaaS can help app developers deliver on that user expectation.”
As the market leader in Quality of Service (QoS) for cloud and mobile, only LiveQoS® has IPQ™ to find and fix the problems on any wired and wireless network. This guarantees the best video and virtualization experience for smartphones, tablets, laptops and thin clients.
LiveQoS® develops, manufactures and supports IPQ™, a framework that maximizes the quality of controlled and uncontrolled networks according to actual link conditions and actual application requirements. IPQ™ enables applications to run as-designed in network environments where the application would otherwise fail or the user would suffer unsatisfactory Quality of Experience (QoE). IPQ™ is the only commercially available solution that meets these requirements. The Company serves customers of all sizes in the mobile, cloud computing, enterprise and unified communications verticals. For more information, please visit liveqos.com.
About Miralta Capital
Miralta, one of Canada’s oldest and most successful private equity investment firms, has a 30+ year track record of investing significant pools of capital and returning 4X capital to investors. Miralta has consistently generated internal rates of return in excess of 22% for investors by focusing on attractive technology driven business opportunities and providing crucial “hands-on” guidance to management teams of portfolio companies.
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