Cable Technology Feature Article
$20 Million In Funding Secured By Clearleap
By Tammy Marie Rose, TMCnet Contributing Writer
Clearleap, a multiscreen video technology provider, recently closed a $20 million new funding round. The funding round was led by Susquehanna Growth Equity. Trinity Ventures and Noro-Moseley, existing investors, also participated.
With the end of this new round of fundraising, Clearleap brings its total financing to $36 million. The new income comes at a time when the company is expanding into the European market. Clearleap will use the money to speed up its domestic and international expansion.
Companies including HBO, Verizon, Time Warner (News - Alert) Cable, The Food Network and the Travel Channel use Clearleap’s platform for multiscreen video.
Braxton Jarratt, Clearleap CEO said in an announcement about the funding round, "Consumer demand for better, more varied and more flexible viewing options has been the catalyst for massive change in the TV industry, and what we're seeing today is really just the beginning. Our goal is to become the technology partner of choice for every content owner or service provider looking to supercharge their efforts to deliver video across every screen. This round of funding enables us to realize this goal much faster and cement our reputation in this space."
Clearleap is headquartered in Atlanta, Georgia and has offices in both New York City and San Francisco. It’s International headquarters are located in Amsterdam, Netherlands. The Amsterdam office has a dozen employees. Clearleap hired former Cisco (News - Alert) exec Preben Schack to lead its sales team there.
Clearleap predicts that it will be able to increase its headcount from about 100 today to 250 employees in the next 18 months.
“We built the company from the ground up to have both sets of DNA,” Jarratt said, touting employee expertise in both the networking space and on the application end of things. “Together we built something that appeals to both buyers in satellite uplink, as well as those building apps.”
image via clearleap.com
Edited by Cassandra Tucker