The company intends to use the proceeds from the investment to continue to grow and expand its product offering.
In conjunction with the investment, Greg Goldfarb, a Summit Partners Managing Director, has joined the board. Co-founders CEO David Stubenvoll and CTO Charlie Good will remain majority owners and lead the Wowza’s Board of Directors.
Founded in late 2005, the media server software company delivers an industrial-strength infrastructure for streaming live video, video-on-demand, live recording, and video chat.
Customers include service providers, radio and TV broadcasters, media properties, enterprises, educational institutions, OEMs, government agencies, and other organizations.