Cleeng Raises $5.8 Million to Strengthen OTT Video Technology
Funding Led by Venture Capital Firm Walvis Together with C4 Ventures
Cleeng, the leader in video e-commerce solutions for broadcasters, announces a Series B funding round of $5.8 million to drive product development and growth in key markets. With the new funding, Cleeng will up its sales and marketing efforts, broaden its partner network and further invest in research and development. The funding round is led by Dutch venture capitalist firm Walvis, joined by current investors C4 Ventures. Walvis, founded by the J.A. Fentener van Vlissingen family, helps Dutch technology companies scale internationally.
Cleeng raises USD 5.8 million to strengthen Over-The-Top video technology and fuel international expansion
The additional funding strengthens Cleeng’s leading position in the Direct-to-Consumer video industry. Global broadcaster networks including Foxtel, Sinclair Broadcast Group, Sky News, and media brands like Feld Entertainment, Cyberobics/McFit use the company’s flexible and scalable solutions to sell and secure their premium video content. With the advanced analytic capabilities, broadcasters have a 360˚ view of the end-user journey, along with powerful analytics that enable more precise data-driven business decisions.
“The OTT market is booming, and this investment will allow us to reinforce our core competencies and create the best platform for broadcasters to succeed in delivering Direct-to-Consumer strategies”, said Gilles Domartini, founder and CEO of Cleeng. He added, “We’ll expand our market presence in the USA, Europe and Asia to better meet the needs of leading broadcasters and our network of partners across the globe.”
Vincent Gravesteyn, Managing Director at Walvis, commented “Cleeng’s team has built a highly reliable and technically advanced video e-commerce platform for the broadcasting ecosystem. Premium videos are increasingly central to every media and content strategy today. Cleeng’s innovation in this space offers valuable opportunities for business efficiencies”.
He continued, “Walvis invests in entrepreneurs with game-changing technologies and global ambitions, and we are excited to work together with Cleeng’s leadership team to create an international market leader.”
The Amsterdam-based startup continues to invest in bringing top talent on board its rapidly expanding team to drive business expansion and product development. Colin Morrison, VP Sales at TiVo and 25-year industry veteran will join Cleeng’s supervisory board along with Vincent Gravesteyn and existing board member Olivier Huez from C4 Ventures, the investment fund founded by Pascal Cagni.
Recommended Read: Kaltura Acquires Interactive Personalized Video Startup Rapt Media