Streamroot, a startup delivering innovative over-the-top (OTT) video delivery solutions, has secured fresh funding of $3.2 million from clutch of high profile VC firms. These VC firms include Techstars Venture Capital Fund, Verizon Ventures and R/GA. Existing investor Partech Ventures also participated in the current round. With the latest round of funding, Streamroot’s total funding has risen to $6 million.
Established in 2013, Streamroot developed what it claims to be the world’s first webRTC based peer-to-peer delivery technology for online video broadcasters. Through this unique technology, this French startup is challenging the traditional server-based content delivery (CDN) system. The company’s co-founder and CEO Pierre-Louis Theron claims that CDN is simply incapable of delivering high definition (HD) videos to ever increasing global audiences.
Streamroot’s novel technology, on other hand, can help broadcasters in scaling HD videos to audiences of any size. The French company claims that its technology is not only reliable but also cost effective for broadcasters, while enhancing the HD viewing experience of the viewers.
Apparently, Streamroot’s new age technology has found high profile takers in the media industry, including Dailymotion, Canal+, Eurosport and Russia Today. Serving such big clients has certainly helped this startup in getting noticed among industry peers and also investors. Additionally, today the company claims to power nearly 400 million video sessions every month.
Analysts say that innovative OTT video delivery startups like Streamroot are trying to capitalize on the fast growing television industry and the subsequent growth of HD market. The unparalleled growth in technology over the years is propelling even several developing countries to embrace HD streaming technogoly, with many analysts believing that this may augur well for Streamroot in coming years.