Simplestream, specialist in live and on-demand OTT TV services, has received a £500,000 (€0.56m) finance package from Clydesdale and Yorkshire Bank’s Growth Finance team to assist with further investment and international expansion.
The London-based company is going through a stage of significant growth and says this most recent round of funding will allow it to increase sales and development to enhance its international capacity. The company’s offering is already used by industry leaders including QVC, Sony and News Corp.
Adam Smith, founder and CEO, Simplestream said: “It’s a hugely exciting time for us and the new funding will enhance our ability to grow the business and explore new, international markets. Our business is built on innovation, service and delivery and it was great to work with a partner who understood our vision and ambitions and was able to deliver the right solution at the right time.”