Video On Demand platform to aggressively accelerate sales, marketing, and product roadmap execution
Intelivideo, the digital content firm that provides Video on Demand (VOD) and Subscription Video On Demand (SVOD) platform, has scooped $5.6 million in Series B funding round. The latest funding is expected to help Intelivideo expand its business into advanced VOD segments, and increase sales, marketing, and product innovation capabilities.
Excited about acquiring a decent funding within five years since its inception, Intelivideo CEO, Matt Given says, “We’ve spent the last several years building the best video platform on the planet. We are uniquely poised to support virtually any business ready to start their own VOD business. This recent financing round will help us not only reach new categories but develop the technological innovations necessary for their success.”
In the US, the consumer demand for VOD has increased intensely in last few years, with streaming services in over 50% of households and daily digital video consumption set to reach 72 minutes per adult this year.
The VOD industry overall is early in the adoption curve, presenting a significant growth opportunity to SVOD platforms offering these services. Intelivideo’s growth reflects these significant consumer demand trends, with platform usage tripling and the number of subscription video customers skyrocketing nearly 400% over the past year. The SVOD platform provider has witnessed extensive traction across multiple segments from large national brands down to future video stars.
Intelivideo customers acknowledge that the SVOD platform offered by the company helps reach audiences outside the business premises with unlimited revenue opportunities. Along with its seamless capabilities, Intelivideo offers outstanding flexibility in its pricing and compatible mobile app features with clear video delivery options.
This announcement comes just months after Intelivideo launched an entirely new suite of apps designed to beautifully display high-quality videos across smart TV environments, mobile devices, and tablets. Adding to their list of offerings, in May of 2016, Intelivideo also launched a first-of-its-kind subscription center designed to support the growing number of SVOD channels.