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Accedo raises US$10 million in capital

TV app provider Accedo has raised US$10 million in capital after partnering with Stockholm-based private and growth equity fund, SEB Private Equity.

The deal allows early investors of Accedo – including Industrifonden and Acacia – to exit as part of their investment strategy and adds capital that will be used for “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,” said Accedo CEO and co-founder, Michael Lantz.

“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.”

At the same time, Accedo has appointed industry veteran and former Documentary Channel, OpenTV, Sky, and A&E executive, James Ackerman, as its new chairman of the board.