CPE News (5.1.2024) – Netskrt Systems has secured $10 million equity financing.
The Series A-1 round was co-led by Yaletown Partners and Credit Mutual Equity with participation of InBC Investment Corp.
The Series A is Netskrt Systems first institutional VC funding round. It has primarily been backed by private investors.
In connection with the financing, Brad Johns from Yaletown and Ludovic Andre from Credit Mutuel Equity will join Netskrt board of directors.
Founded by Siegfried Luft, Moira Dang and Lars Cavi, Vancouver based Netskrt Systems is a Content Delivery Network (CDN) provider uniquely focused on improving over-the-top (OTT) streaming video quality at the network edge.
With the new funding, 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.
photo credit: Netskrt
News Release
Netskrt Systems Raises $10 Million in Series A Funding to Expand Market for Edge CDN
May 01, 2024 10:35 AM Eastern Daylight Time
VANCOUVER, British Columbia–(BUSINESS WIRE)–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.
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.
Contacts
Vivian Kelly
Interprose for Netskrt
+1 703.509.5412
viviankelly@interprosepr.com