Over-the-top video solutions company, Accedo, has raised US$17 million – a move it said will help drive growth and accelerate innovation in the coming years.
The funding round was led by Stockholm-based investment firm and existing Accedo investor, SEB Private Equity, and follows Accedo’s move in recent years into new business areas like virtual and augmented reality, voice interaction and data-driven video analysis.
“The industry is undergoing tremendous change at the moment,” said Accedo CEO, Michael Lantz. “We see rapid innovation happening and existing business models and technologies are being challenged.”
“As an innovator in the market, we have great opportunities to set and drive the agenda during a dynamic transformation. I’m thrilled to be able to continue to lead the market in new areas over the coming years.”
Accedo specialises in video experience solutions and customers for its flagship Accedo One cloud platform include broadcasters and operators such as PBS, The CW, OSN, NBCUniversal and Airtel.
SEB Private Equity investment director, Magnus Ramström, said: “Accedo has built a leading position in a very dynamic and rapidly changing industry.
“The market trends are moving in the right directions and we expect to see continued rapid industry evolution over the coming years. We’re looking forward to supporting Accedo as we embark on the next step on this exciting journey.”