Time Warner Investments Leads $15 Million Funding Round for Conviva
New financing to help accelerate growth in global marketplace and expand Conviva sales and marketing
San Mateo, CA(06 Feb 2012)
Conviva Inc., a video quality optimization and advanced analytics solution provider focused on providing the best viewer experience, today announced it has closed a $15 Million round of funding led by Time Warner Investments, the strategic investing arm of Time Warner Inc.
With the explosive consumer demand for video across a wide-range of digital devices, the need for advanced analytics and video optimization is greater than ever. Conviva improves over 1 billion streams a month and provides solutions that guarantee a high quality viewing experience that ultimately results in longer viewing times and increased revenue for content companies-despite the unpredictability of the Internet.
"Conviva's online video analytics & optimization solutions have become key enabling technologies for several of our businesses' TV Everywhere initiatives including HBO GO," said Scott Levine, Managing Director, Time Warner Investments. "Conviva is the leader in the preemptive video stream optimization and video-specific analytics space, and we hope this round of funding will fuel their fast growth. We are excited to invest in such an important strategic partner to two of our divisions, HBO and Turner Broadcasting."
This latest round of funding will be used to accelerate Conviva's growth in international markets and to expand their staff in order to meet the growing demand for their online video solutions. The company's technology is unique in its viewer-specific approach to raise the quality of online viewing, eliminating buffering, stuttering and stalling. Using viewer-side statistics, Conviva can preemptively adjust the video bitrate and stream source before an interruption occurs. Conviva also provides this statistical insight in real-time to its customers to provide the most in-depth look into how their video is performing and impacting viewer engagement. This combination of measurement and action results in increased profits for media brands.
"As we work with content companies like Time Warner, one of the industry's most aggressive and forward-thinking media companies, to extend their great content to digital platforms we prove that video quality matters for both viewers and content owners and that moving content online can be a profitable business," said Darren Feher, CEO of Conviva. "We are thrilled Time Warner and our existing investors agree that now is the time to invest for growth in digital video."
Conviva is transforming the online video experience by eliminating the causes of choppy, unpredictable viewing for both live events and on-demand content. Starting with real-time audience instrumentation, Conviva's intelligent video platform empowers major studios, leading networks, premier sports leagues and top content aggregators by automating both dynamic bit rate adjustment and the management of multiple distribution networks to optimize the experience, raise engagement and reduce the cost for large-scale video businesses. Great content brands rely on Conviva to deliver the best quality video while raising profit margins. For more information on Conviva, please visit conviva.com.
About Time Warner Investments
The Time Warner Investments group targets non-control strategic investments that have a clear impact on Time Warner's divisional operations and directly enhance the Company's ability to meet specific strategic goals. Time Warner Inc. is a leading media and entertainment company, whose businesses include interactive services, filmed entertainment, television networks and publishing. For more information on Time Warner Investments, please see www.timewarnerinvestments.com.