LiveU, a Hackensack, NJ-based provider of portable video-over-cellular solutions, has raised $27m in funding.
The round was led by new investor Lightspeed Venture Partners, with participation from existing investors Canaan Partners, Carmel Ventures and Pitango Venture Capital.
The company intends to use the funding to accelerate product development and global expansion.
Founded at the end of 2006, and led by Samuel Wasserman, CEO, LiveU provides solutions that allow live video transmission (HD and SD) from any location around the world. The company’s backpack/handheld products include multiple 4G LTE/3G, HSPA+, WiMAX and Wi-Fi cellular links.
Customers include the London 2012 Olympics, 2012 US Presidential Campaign, 2011 British Royal Wedding, Hurricane Irene, Japanese Tsunami, Academy Awards®, GRAMMY Awards®, Super Bowl, NBA All Star Weekend, Brazilian Carnival and 2010 World Cup in South Africa.
In conjunction with the funding, David Gussarsky, Lightspeed’s Managing Director, has joined LiveU’s Board of Directors.