Netskrt Systems Raises $10 Million in Series A Funding to Expand Market for Edge CDN
01 May 2024 - 3:35PM
Business Wire
Financing fuels Netskrt’s Edge CDN global
growth plans to deliver higher quality video streaming for OTT
providers
Netskrt Systems, Content Delivery Network (CDN) provider
uniquely focused on improving over-the-top (OTT) streaming video
quality at the network edge, announced today that it has secured
$10 million CAD equity financing from Yaletown Partners, InBC
Investment Corp, and Credit Mutual Equity. With the Series A
funding, led by Yaletown, a leading Canadian venture capital fund,
Netskrt will further expand its edge CDN (eCDN) footprint into
international markets, including Europe and South America, as well
as airlines and other travel markets.
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Siegfried Luft, Netskrt CEO and
co-founder. (Photo: Business Wire)
Netskrt currently delivers tier 1 streaming video on demand
(VOD) and live media across its footprint in Canada, the United
States, and the United Kingdom, enabling at scale delivery of
content and providing an exceptional viewing experience to
consumers. This investment will further allow Netskrt to expand
customer support, engineering, and operations to fulfill their
global eCDN mission.
“This financing marks a significant milestone in Netskrt’s
journey, affirming investor confidence in our vision, team, and
opportunity for significant growth,” said Siegfried Luft, Netskrt
CEO and co-founder. “The Netskrt eCDN uniquely enables streaming
subscribers to view content at the highest quality, in locations
ranging from the urban, rural, or remote neighbourhoods, to 30,000
feet in the air.”
“By offering an intelligent CDN solution for the edge of the
network, we believe the Netskrt team is ideally positioned to
realize significant opportunities in their mission to enable
content owners to offer a high-quality viewing experience for their
subscribers,” said Brad Johns, Partner, Yaletown.
“We’re excited to be working with the Netskrt team and to bring
our reach and expertise in Europe to help them as they expand their
unique eCDN offering globally,” added Ludovic Andre, Managing
Director, Credit Mutuel Equity.
“Netskrt’s innovations are addressing a large market demand and
will benefit Canadians — and subscribers worldwide, particularly
those living in remote and rural communities who are underserved by
existing technology,” said Leah Nguyen, Chief Investment Officer,
InBC Investment Corp. “InBC’s investment in Netskrt will improve
content delivery and access to services for more people and aligns
with our objective to innovate for the future.”
About Netskrt
Netskrt Systems radically improves the ability for OTT providers
to deliver a higher quality viewing experience to all of their
subscribers, wherever they are, while improving efficiency for the
networks delivering the content. Netskrt’s eCDN solution is
particularly well suited to live streaming of major sporting events
and popular VOD content. Visit www.netskrt.io for more
information.
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Vivian Kelly Interprose for Netskrt +1 703.509.5412
viviankelly@interprosepr.com