TVindustry, announced that it has closed a $20 million round of funding, bringing its total financing to $36 million. Susquehanna Growth Equity led the round with participation from Clearleap’s existing investors: Trinity Ventures and Noro-Moseley. The new round follows the company’s recent launch into the European market and will be used to further accelerate Clearleap’s domestic and international expansion.
Clearleap’s multiscreen platform provides the framework for leading content owners and television providers as they enhance their existing video services while developing new ones. The company has experienced tremendous growth in recent years as companies like HBO, Verizon, Time Warner Cable, the Food Network, and Travel Channel have turned to them for a reliable and efficient way to meet growing consumer demand for video content across every screen.
“Consumer demand for better, more varied and more flexible viewing options has been the catalyst for massive change in the TV industry, and what we’re seeing today is really just the beginning,” said Clearleap CEO Braxton Jarratt. “Our goal is to become the technology partner of choice for every content owner or service provider looking to supercharge their efforts to deliver video across every screen. This round of funding enables us to realize this goal much faster and cement our reputation in this space.”
“The proliferation of internet-connected devices with video streaming capabilities has caused content producers and distributors to seek new solutions to help them efficiently manage their multiscreen, TV-everywhere experience,” said Scott Feldman, Managing Director at SGE. “Clearleap has developed a software platform that offers purveyors of video content a cost effective, scalable alternative to high fixed-cost, hardware-dependent solutions. Braxton and his team are leading this massive shift in spending with a true cloud-based, SaaS solution that we expect to set a new standard in the video content and subscriber management industry.”