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iStreamPlanet Gains Series A Funding from Turner Broadcasting

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As part of its Series A round of funding, iStreamPlanet has received an investment from Turner Broadcasting. The two companies have worked together previously on live events, including streaming the 2010 NASCAR Coca Cola 400 from the Daytona International Speedway as an in-browser 3D experience. iStreamPlanet offers live managed broadcast services of online events.

iStreamPlanet will use the funding to accelerate product development, as well as offer cloud-based dynamic scaling and elasticity based on customer demand. It will also seek to grow its lineup of strategic partners. That role will be led by Chris Carper, newly hired as senior vice president of strategy and business development. Carper is a 16-year Microsoft veteran, where he worked on Windows Azure.

"We are very excited to have such a strong strategic investor join in supporting our company," says Mio Babic, CEO of iStreamPlanet. "Turner is one of the leaders in live broadcast and a true innovator in both the broadcast and digital space. We are looking forward to the opportunity to work with them in the future on their high impact digital events and overall multi-screen strategy."

Previous sporting events managed by iStreamPlanet include the 2010 Vancouver Olympic Games, NBC Sports' Sunday Night Football, Wimbledon, U.S. Open Golf, Notre Dame football, the Ryder Cup, and the Kentucky Derby.

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