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iStreamPlanet Announces $8 Million in Funding

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iStreamPlanet, a video workflow company that offers live linear video solutions, announced that it has taken in $8 million in financing. The investment came from QuestMark Partners, an expansion-stage venture firm, which joins previous investors Intel Capital, Turner Broadcasting, Interxion, and Juniper Networks.

iStreamPlanet says it will use the capital to promote the launch and sale of Aventus, its multiscreen live video workflow solution, through its partner ecosystem. The money will also go to the creation of the next version of Aventus. It adds that Aventus is able to move live video workflows from hardware to software or the cloud, offering better scaling, costs, and flexibility. Feedback from customers and partners will drive development of the new version, IStreamPlanet says.

“Our industry is changing rapidly due to the huge growth in connected devices, and our customers are both excited and challenged by the opportunity in live, multiscreen streaming video delivery,” says Mio Babic, iStreamPlanet's CEO. “This investment energizes our sales, marketing, and software engineering teams to bring innovative solutions to market that will help our customers meet these challenges and accelerate their live video strategies.”

In March of this year, iStreamPlanet released a study created with The Diffusion Group showing that 75 percent of pay TV customers were receptive to the idea of live linear delivery.

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