bitmovin closes first financing round
August 12, 2014
bitmovin, a technology specilaist in adaptive streaming solutions, has received a 7-digit investment from Austrian/US venture fund SpeedInvest and institutional investor Constantia Industries to accelerate development and deployment of its high performance cloud-based encoding platform bitcodin and its efficient bitdash streaming clients for MPEG-DASH.
bitmovin is an Austrian start-up that develops and sells high-performance media streaming technology and solutions to customer such as Red Bull Mobile. The company helps its customer to manage the complexities of delivering the best possible streaming video quality, in the most economical way, across all networks, and to any device.
This is bitmovin’s first investment round, following the founding of the company in 2012.
“bitmovin has created cloud-native streaming media solutions for the new era of media delivery and consumption that is taking shape today, enabling new levels of quality of experience and cost efficiency”, said Marcel van der Heijden, Partner at SpeedInvest. “We’re excited to support bitmovin taking to market the current line-up of solutions, as well as commercializing its IP and R&D that enables emerging use cases, such as device-originated content distribution, streaming session mobility, as well as HTTP2/SPDY and peer-assisted streaming”.