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LiveU Takes in $27M in Funding, Will Develop New Products

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Mobile broadcasting specialist LiveU has taken in $27 million in new funding, which is says it will use to speed up its new product development cycle, and also to expand in new markets around the world.

The funding round was led by Lightspeed Venture Partners, a new investor to LiveU. Existing investors Canaan Partners, Carmel Ventures, and Pitango Venture Capital also took part.

This brings LiveU's total venture capital investment to around $50 million.

As part of the funding, David Gussarsky, Lightspeed's managing director, will join LiveU's board of directors.

"We've been impressed by LiveU's management team, consistent track record, and strategic direction," says Gussarsky. "The Company has built a strong, global customer base and become the benchmark for video-over-cellular uplink technology. We're confident that LiveU will continue on its growth path, delivering innovative solutions that meet a real need, and we're excited to be part of their journey." 

LiveU was founded in late-2006. Its flagship product, the LU70, offers bonded 3G/4G LTE mobile uploading in a compact backpack.

"As we move from being a product-based to solutions-based company, this substantial investment will enable us to expand our mobile offerings, continue our technological innovation, and extend our geographical presence," says Samuel Wasserman, LiveU's CEO.

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