SOUTH SAN FRANCISCO, CA--Envivio as closed $25 million in new venture capital funding. This significant investment follows a period of exceptional growth at Envivio, averaging above 55 percent 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.
Envivio CEO Julien Signes said, "Envivio has firmly established itself as a leading provider of video convergence solutions, enabling operators to send the highest quality video to any device whether it is a cell phone, a TV or a computer. Envivio has created a fundamentally different solution to this challenge and this latest funding both validates our approach and recognizes the massive opportunity in IP-based television service delivery. This funding, taken in combination with our newly completed world-class management team, puts Envivio in an excellent position to further its competitive advantage and become a key enabler of the future of media distribution."
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.
Atlantic Bridge Partner Kevin Dillon said, "We are strong believers that the markets for Mobile TV, Internet TV and IPTV are each accelerating rapidly and globally. Major service providers in several key markets are seeking to offer solutions that deliver their content to all 3 screens. Envivio clearly provides the leading platform for content delivery in a variety of formats to multiple devices, combining rapid and cost effective deployment with the best quality in the industry. We are delighted to join our co-investors in supporting the great executive team at Envivio as it leads the industry with the most flexible and robust IP video solutions."
Samsung Ventures Investment manager Michael Jeon said, "The video delivery landscape is changing before our eyes, with consumers demanding services that accommodate their dynamic lifestyles. Operators need technical innovators like Envivio to help them make the most of this opportunity. Envivio's solutions resonate with operators and are proving themselves in the field in some of the most advanced Three Screens deployments around the world."
Expansion of its leadership team has been a top priority for Envivio to further support the growth that has made it a major global player in the video delivery space. This year the Envivio senior executive team has been joined by:
CFO John McAdoo - brings over 20 years of financial management experience to his recent appointment as CFO at Envivio. Prior to joining Envivio, John spent 8 years at ARM Holdings plc. in a number of roles including Group Financial Controller and VP Finance & Administration.
COO Richard Stanfield - brings over 20 years of sales, marketing and field operations experience with five successful back to back technology start-up companies in the communications and digital media sectors.
The latest additions to the Envivio board include:
Kevin Dillon - partner with private equity firm Atlantic Bridge, has 23 years of operating experience in the technology sector, including a total of 18 years operational experience in Paris, London and Dublin, five years in Silicon Valley, and a total of 13 years as an executive in the software industry. Kevin served as Vice President, Microsoft EMEA, holding several senior positions at Microsoft from 1991 to 2004, and was a founding General Partner of Atlantic Bridge, the most experienced European Middle Market Technology Investment Team, actively managing over €480m of assets.
Gianluca Rattazzi (Chairman) – a successful entrepreneur who has steered four companies from inception through public offering. He is President and CEO of MaxiScale, Inc., a private software development company.
Leonardo Chiariglione – a leading figure in the development of today's digital media world, he founded and chairs the Motion Picture Expert Group (MPEG), the group that defined the standards upon which digital video and audio are distributed.