Vantrix Closes US $14 Million in Series C Funding 05/11/10
BOSTON, MA and MONTREAL, CANADA (May 11, 2010) – Vantrix, the global leader of mobile video optimization and delivery solutions for streaming, browsing and messaging, today announced the completion of a US$14 million Series C investment. The financing round was led by Tudor Ventures, the venture capital and private equity arm of Tudor Investment Corp., with pro rata participation from existing investors Summerhill Venture Partners, JK&B Capital, BDC Venture Capital, Innovacom Venture Capital and Entrepia Ventures. The new working capital will serve to help Vantrix expand its operations following on the growth the company has experienced and further anticipates in video delivery and bandwidth optimization.
“Vantrix has demonstrated the proven ability to gain Tier 1 customers and partners resulting in a market-leading position in mobile video,” said Dan MacKeigan, Principal at Tudor Ventures. “The company has built an exceptional track record and management team, and we are delighted at the prospect of supporting their expansion strategies.”
As part of the funding round, Vantrix also announced that Mr. MacKeigan has joined its Board of Directors. Other directors include Joe Catalfamo, Managing Director at Summerhill Venture Partners; Ali Shadman, Partner at JK&B Capital; John Major, former Qualcomm (Nasdaq:QCOM) executive and currently non-executive Chairman at Broadcom (Nasdaq:BRCM); Gary Donahee, former Nortel executive, and Vantrix co-founders Allan Benchetrit, President & CEO and Jean Mayrand, CTO.
“We are thrilled to have Tudor join the Vantrix family. This is a tremendous validation of the company’s leadership position and momentum,” said Allan Benchetrit, President & CEO of Vantrix. “With over 35 new operator customers in the last two years, Vantrix has emerged as the natural industry leader in mobile video delivery and optimization. Our goal is to build on our proven success and continue to help operators capitalize on mobile video services, whether on deck or over-the-top, in the most cost-effective manner possible.”
According to industry data it is predicted that over the next 5 years, mobile Internet traffic will increase by approximately 40 times by 2014, with video accounting for 66% of global mobile traffic1. Vantrix enables mobile operators to reduce the costs of delivering video to laptops, phones, iPhones and iPads by as much as 50%.
The Vantrix Mediadvance platform ensures the richest user experience and most cost-effective roll-out of premium services such as mobile and web TV, video on demand, MMS and user generated content. Vantrix infrastructure software is deployed in over 60 mobile and broadband networks worldwide, and the company’s unique expertise allows its customers to implement cost effective and profitable services by reducing the OPEX and CAPEX investments necessary to run converged multimedia.
Vantrix, the global leader of mobile video optimization and delivery solutions, ensures the richest user experience and most cost-effective roll-out of premium services such as mobile and web TV, video on demand, MMS and user generated content. Vantrix is proud to count among its customers: Sprint (NYSE:S), Orange, Telefonica (NYSE:TEF), T-Mobile, TeliaSonera (OMX:TLSN), MTS, Etisalat (ADX:ETISALAT), Saudi Telecom Company (TADAWUL:STC), and Tata Telecom, reaching over 700 million subscribers worldwide. Vantrix is headquartered in Montreal with offices in London, Hong Kong, and Dubai. To learn more about Vantrix, visit www.vantrix.com
Beverly Wilks Senior Director, Marketing – Vantrix
Tel: +1.514.866.1717 x296