Envivio has closed $25 million in new venture capital funding. This significant investment follows a period of exceptional growth at Envivio, averaging above 55% annually for the past five years, driven by major customer deployments for contribution and distribution applications in the Mobile TV, Internet TV and IPTV markets. Envivio has also completed the expansion of its senior management team with the appointments of John McAdoo as Chief Financial Officer and Richard Stanfield as Chief Operating Officer.
The $25 million in financing is being co-led by private equity firms Harbourvest and Atlantic Bridge, as well as Samsung Ventures. These lead investors are joined by many of the current members of Envivio's strong investor portfolio which includes Crédit Agricole Private Equity, Crescendo Ventures, Innovacom (France Telecom), Harbinger Venture Management, Intel Capital, NTT Finance, Saints Capital, Sigma Designs and Solidarity Fund QFL. Envivio will use the additional funding to extend its technical leadership in IP video delivery and maintain its rapid growth levels through increased sales and marketing activities worldwide.
Envivio is currently demonstrating its encoding solution for the Three Screens at IBC 2008 in Amsterdam from September 12-16, 2008. Visit the Envivio booth 5.A19 during IBC or our website at
http://www.Envivio.com.