Blu Digital Group Closes Multi-Million Dollar Series A Investment Round from Leading Silicon Valley Investor
Series A Investment will Help Drive Further Development of Blu’s Market-leading Media Technology Software and Services
Blu Digital Group, Inc. (BDG), a digital media services and software company, announced today that it has closed its multi-million-dollar Series A round of funding with the investment led by C. Richard “Dick” Kramlich, Co-Founder of New Enterprise Associates (NEA) and Green Bay Ventures.
“It is very gratifying to see our growth as a company, and the scope of our opportunity, recognized by a Silicon Valley luminary like Dick Kramlich,” said Paulette E. Pantoja, CEO, Blu Digital Group, “The funds raised will help accelerate our push for leadership in digital services, software solutions and media licensing/distribution for the media & entertainment industry.”
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“Blu sits at an exciting spot, with a blue-sky opportunity and a stellar team,” adds Kramlich. “The transformation in how media content employs streaming for global consumption calls for a new mindset and technology paradigm. Blu’s unique capabilities in optimizing media and maximizing its profitability across platforms position it perfectly for the new media landscape.”
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Dick Kramlich was the first initial outside equity investor in Apple, and as a Director representing NEA led 11 start up companies to valuations exceeding $1 billion each. Green Bay Ventures is currently an investor in DataBricks, and independently Dick serves as a Board of Director for Tri Alpha Technologies and Gravity Diagnostics, among others. He has received six lifetime achievement awards and served as President and Chairman of the National Venture Capital Association.
The Series A funding will be used by Blu to add key members to its executive team, accelerate software development growth, and to continue its entertainment industry expansion.
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