Stockholm-based Accedo has raised $17 million in equity funding. The video experience pioneer says it will use the sum to drive its growth over the next few years.
The financing round was led by SEB Private Equity, which is already a substantial investor in the company.
Accedo was founded in 2004 by Michael Lantz and Fredrik Andersson with a vision of providing the future of internet distributed video services.
“The industry is undergoing tremendous change at the moment. 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,” says Michael Lantz, CEO, Accedo.
“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,” added Magnus Ramström, Investment Director, SEB Private Equity.
In addition to rolling out multiple new products for the core video experience market, Accedo has over recent years continued to innovate and entered into new business areas, including VR, AR, Voice interaction, as well as data-driven analysis of video experiences.
