OTT solutions company Accedo has raised US$17 million in funding which it said will be used to drive innovation in its core video experience market and accelerate growth in new areas such as AR/VR and voice interaction in coming years.
This round of financing was led by SEB Private Equity, a Stockholm based private equity team and already a substantial investor in Accedo.
Founded in 2004 by Michael Lantz and Fredrik Andersson to provide internet distributed video services, Accedo is a leader in OTT video experience solutions. Accedo’s global solution team, and its flagship Accedo One cloud platform and managed services are trusted by leading media companies, operators and broadcasters world-wide, including PBS, The CW, OSN, NBCUniversal and Airtel.
“The industry is undergoing tremendous change at the moment. We see rapid innovation happening and existing business models and technologies are being challenged. As an innovator in the market, we have great opportunities to set and drive the agenda during a dynamic transformation. I’m thrilled to be able to continue to lead the market in new areas over the coming years,” says Michael Lantz, CEO, Accedo.
In addition to rolling out multiple new products for the core video experience market, Accedo has over recent years continued to innovate and entered into new business areas, including VR, AR, Voice interaction, as well as data-driven analysis of video experiences.
“Accedo has built a leading position in a very dynamic and rapidly changing industry. The market trends are moving in the right directions and we expect to see continued rapid industry evolution over the coming years. We’re looking forward to supporting Accedo as we embark on the next step on this exciting journey”, commented Magnus Ramström, Investment Director, SEB Private Equity.