Avvasi, Inc., a Waterloo, Ontario, Canada-based developer of solutions that enable mobile network providers to measure, improve and monetize mobile video, has raised $15m in a Series B financing round.
The financing was co-led by Celtic House Venture Partners and Tech Capital Partners.
Joining the investment syndicate as a new investor is the Ontario Emerging Technologies Fund (OETF), a $250m fund established by the Province of Ontario to co-invest alongside qualified investors in innovative, high-growth, private companies.
Celtic House is one of four qualified investors approved to date by the OETF.
As stated by Mate Prgin, President and CEO of Avvasi, this additional funding will allow the company to accelerate its product release schedule to meet the demands of customers.