Simplestream is planning an international rollout for its TVPlayer OTT platform. The London-based aggregator has received an additional £2 million in equity funding from a consortium including investment capital firm Beringea and AMIM-listed YOLO Leisure and Technology.
It’s also planned to release a while label version of TVPlayer.
Rob Hodgkinson, Investment Manager at Beringea, who will join the Simplestream board, commented: “The success of TVPlayer to date demonstrates there is significant demand for a multi-device aggregator of live TV in the UK market and internationally. We have been impressed by the progress made by Adam Smith and his team and are delighted to support the continued development of Simplestream and TVPlayer.”
Beringea’s previous investments have included Fjordnet, Espresso Education, Saffron Digital and Mergermarket.
Adam Smith, founder and CEO of Simplestream, added: “With the support of these value added investors, which gives Simplestream significant credibility, we are particularly excited by our sales pipeline as major broadcasters increasingly recognise the ability to access a younger demographic of audience through Simplestream’s live streaming and automated catch-up capabilities.”
Simplestream clients include Discovery Networks, Scripps Networks, Box Television, QVC, At The Races and Turner Broadcasting amongst others.
Its cloud-based Media Manager solution is designed to enable broadcasters to securely live stream broadcast content to any device with minimal latency and gain significant workflow efficiencies through the automated creation of multi-bitrate, multi-platform video files from the live stream.