Verizon Ventures has invested in an early stage financing round for New York-based Streamroot, which has been developing video streaming technologies to help OTT and broadband TV providers increase server capacities.
Streamroot’s latest $3.2 million round of financing brings the startup’s total financing to $6 million.
Started in early 2014, Streamroot created a webRTC-based peer-to-peer delivery technology for video publishers.
“Traditional server-based content delivery is no longer adapted to colossal worldwide audiences and the demand for ever higher definition,” Streamroot Co-founder and CEO Pierre-Louis Theron comments. “Streamroot, meanwhile, scales naturally to audiences anywhere of any size. Using intelligent mesh networks and dynamic multi-sourcing of content, we offer both a more reliable and cost effective solution for broadcasters, and heightened quality for users.”
Streamroot relies on a distributed delivery infrastructure, through which it delivers 50 to 80 percent of its customers’ traffic, Theron adds.
“Streamroot has laid the groundwork to reshape OTT video delivery as we know it, and we are now working to build the largest and most reliable delivery infrastructure in the world without relying on a single server,” Theron notes. “These funds will allow us to accelerate our development and tackle the monumental challenge of bringing TV-grade quality to billions of viewers across the world.”
How much Verizon contributed to the financing was not disclosed, but other investors included Partech Ventures, Techstars Venture Capial Fund, and R/GA.
