IVT, a Los Angeles, CA-based provider of a Software-as-a-Service (SaaS) platform that enables rich media presentations for corporate communication and training, has closed a $5.5m series B funding round.
The investment was led by Syncom Venture Partners with Barshop Ventures also participating. They join existing investors Monitor Ventures and Tudor Ventures.
The capital infusion will enable the company to expand its commercialization efforts.
Commenting on the funding, Greg Pulier, Founder and CEO of IVT, was quoted as saying: “We’re excited to be working with venture partners that provide strategic direction as well as capital and who can help us grow to the next level”.
“We’re building on our leadership in webcasting and rich-media communications to become a key component of business virtualization”, he added.
“Our clients are using our offerings to make video and rich media part of much bigger programs that tie together far flung people, business units, and partners — to train people and unify organizations globally”.
IVT’s customers include global clients such as Oracle, Dow Chemical, IBM and NEC, and independent webcasting producers in the event planning, marketing communication and audio-visual sectors.