Accedo $10m funding, new Chairman
June 27, 2016
Accedo, the video experience pioneer, 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.
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 $10 million 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.
The refreshed SBS On Demand experience will offer an uncluttered and engaging new interface that will make it even easier for viewers to explore and enjoy the 4,000 hours plus videos available.
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.