THEO Technologies secures $10m Series A funding
March 11, 2020
THEO Technologies has raised $10 million (€8.8m) in a Series A funding round led by SmartFin Capital, with participation from PMV and Media Invest Vlaanderen (MIV).
Founded in Leuven in 2012, THEO Technologies’ mission is to 2facilitate the perfect video experience on any platform or device, at any time and everywhere”.
“The online video industry is evolving at a rate of knots. More and more big online video services are being launched these days. However, all these video services have the same challenge: people are more demanding today than ever before. Whatever device they use or whatever location they are, viewers expect the same high-quality video experience with online video delivery as with traditional cable television. As a company, we empower these video services to offer high-quality experiences to their viewers. The cooperation with SmartFin Capital, PMV and MIV enables THEO to further expand our market reach, grow the team and bring unparalleled innovation to media companies around the globe,” commented Steven Tielemans, Founder CEO of THEO Technologies.
THEO Technologies’ flagship product is the THEOplayer. This Universal Player Solution provides media companies with a single player across all major connected devices and platforms such as browsers, mobile devices, smart TVs, set-top-boxes and other connected devices. THEOlayer is pre-integrated with solution components across the video ecosystem including streaming, analytics, DRM and content monetisation to remove the complexity of service development and integration.
“Over the last years we have been recognized in the industry as an innovative technological frontrunner. THEOplayer is being used today by leading media companies around the globe. Innovation and continuously challenging the status-quo is in the heart and DNA of THEO. As a company we are on mission to make the technology for online video better than broadcast. Our experts will continue to expand and improve our suite of solutions to empower video services to offer the best possible quality of experience for all screen sizes and network conditions to their audiences. Media companies that work with our solutions know they get a partner onboard that will make a difference for them in the long run,” said Pieter-Jan Speelmans, CTO of THEO Technologies.
“Smartfin is excited to back this ambitious team and help it translate its product leadership into market leadership,” added Thomas Depuydt, managing partner at SmartFin Capital. “Video is growing exponentially, and THEO plays an important role in solving the technical challenges and provide a superior viewer experience.”
“The fact that not only local but also an ever-increasing group of international customers have placed their trust in THEO Technologies’ groundbreaking technology endorses the enormous potential of this company.” said Roald Borré, Head of Equity Investments at PMV, and Director of MIV. “PMV’s entry should make it possible to further develop their position in a highly competitive environment and make Flemish technology the standard within the world of video service providers.”