Simplestream, a London, UK-based provider of on-demand over-the-top (OTT) TV services, raised £500k in financing.
Backers included Clydesdale and Yorkshire Bank’s Growth Finance.
The company intends to use the funds to increase sales and development to enhance its international capacity.
Led by Adam Smith, founder and CEO, Simplestream provides cloud-based live streaming and live-to-VOD services to broadcast and media companies. The company’s platform simplifies over-the-top (OTT) video operations and workflows, supporting live streaming, real-time video clipping and automated “catchup” video creation within a single system.
Clients include Discovery Networks, Scripps Networks International, Box Television, At The Races, Turner Broadcasting and QVC amongst others.
The company currently employs 30 people in its London office and will be expanding to create a presence in both the US and mainland Europe.