iStreamPlanet, a Las Vegas-based provider of live internet broadcast services and automated video workflow solutions and applications, has received $7m in the first closing of an $11m Series A financing round.
The round was led by Intel Capital.
The company intends to use the funds to further accelerate product development, expand its U.S. operations, and continue to grow into European markets, having recently built out a Web Broadcast Operations Center in London and hired Khurram Siddiqui as Vice President and GM of Europe.
Led by CEO Mio Babic, iStreamPlanet develops and operates live and on-demand content creation, management, security, monetization and delivery products and services that are designed to enable content owners (enterprise, broadcast, film, telecom, mobile, retail) to create content once and deliver across a multitude of screens and devices (TV, PC, mobile, gaming consoles and more).
Founded in 2000, the company has offices in Scottsdale, Arizona.