Accedo announced it partnered with SEB Private Equity, a Stockholm-based private and growth equity fund, adding a total of up to $10 million in additional capital. Early investors, including Industrifonden and Acacia, are reportedly exiting.
Accedo’s offerings include AppGrid, an application management solution that combines CMS, analytics, configuration and A/B testing, as well as its Application Sphere, which offers integration into TV devices, regardless of whether it’s a smart TV or a connected set-top box. The company also provides a customizable white-label UX platform, which it says brings the hallmarks of OTT UX to pay TV.
James Ackerman,formerly of OpenTV, A&E and BSkyB is the new chairman of the board.
“It’s rare to see a transformation of an industry such as what we’re seeing in the TV industry at the moment. The traditional value chain is evolving with new and existing players embracing OTT technologies to reach consumers and monetize video content in new and innovative ways,” Ackerman observes. “I believe that Accedo is perfectly positioned to continue to drive that change, and help customers embrace the future opportunities and turn TV viewers into video lovers.”
Michael Lantz, CEO and co-founder of Accedo says SEB shares Accedo’s ideas about developing new ways for consumers to experience video.
“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,” Lantz notes.