TORONTO, Feb. 1, 2012 /CNW/ - MaRS client SeaWell Networks Inc., a
leader in multi-platform video delivery software for network operators,
announced that it has secured $5 million in Series B investment. Led by
Northwater Intellectual Property Fund LP 2, with participation by BDC
Venture Capital, the funding round will be used to support ongoing
trials with customers, expand sales and distribution, and continue to
augment the development of the company's core product offering,
"SeaWell's experienced team is well on their way to changing the video
delivery industry," said Krista Jones, Practice Lead in MaRS'
Information Technology, Communications and Entertainment (ICE)
practice. "This financing round is demonstrative of the support for the
team and their vision."
Network operators have been scrambling to keep pace with the increasing
demand for TV Everywhere products—subscriber video services that are
capable of delivering online streaming video to multiple screens.
Spectrum's solution provides a superior user experience by enabling the
delivery of adaptive bit rate (ABR) streams to multiple devices, while
giving network operators unprecedented network and session control.
In addition, Spectrum provides new ways for network operators to
monetize content, allowing them to dynamically insert unique ads into
ABR streams based on the viewer's session information and subscriber
profile parameters, including device type and ZIP code.
"This is an important step for SeaWell and demonstrates continued
support from our founding partners," said Brian Collie, co-founder and
CEO of SeaWell Networks. "As the industry continues to take huge
strides toward broadband video, our vision of putting intelligence into
the network comes into focus."
About SeaWell Networks
SeaWell Networks Inc. provides software for service providers to manage
and optimize the delivery of HTTP adaptive bit rate (ABR) streaming
video to any device or platform. Our intelligent ABR management
solution, Spectrum, simplifies the delivery of video while enabling new
ways to monetize content. Spectrum combines ad insertion capabilities
and on-the-fly repackaging for the most personalized video experience
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. For
more information please see www.northwatercapital.com.
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.
MaRS Discovery District (www.marsdd.com) (Twitter: @MaRSDD) is a mission-driven innovation centre located in
Toronto. MaRS works with partners to catalyze, accelerate and amplify
innovation. MaRS supports entrepreneurs building Canada's next
generation of growth companies.
SOURCE MaRS Discovery District
For further information:
Chris Stevenson Director, Communications
MaRS Discovery District