ThirdPresence Announces Seed Funding Round
HELSINKI, April 13, 2012 /PRNewswire via COMTEX/ --
ThirdPresence, a cloud-based mobile video platform, announced today that it has raised $800K of seed funding from a group of senior executives and seasoned investors in the enterprise and mobile technology space. The company's original investors, including Finnish Industry Investment, also joined the round. The new funds will be used to accelerate the company's growth in the areas of product development, marketing and sales.
ThirdPresence is currently experiencing rapid growth, building on the company's 2011 success which included the addition of several significant customers such as the RTL Group and Sanoma.
"ThirdPresence has addressed market problems by providing a complete solution for mobile video hosting, delivery, monetization and analytics in a highly scalable form using cloud-based resources," said Markus Bäckström, CEO and co-founder of the company. "This funding accelerates the expansion of our product offering and the reach of our sales, marketing and business development efforts. We look forward to working with the investment team and benefiting from their collective industry knowledge and expertise."
The investment round was led by Jussi Heinilä who is a co-founder of Accelerando. Fellow angel investors include Matti Suokko, former Microsoft executive, Olli-Pekka Kallasvuo, former Nokia CEO, Ari Korhonen, current board member of multiple startups, Riku Asikainen and Jussi Ilmarinen - both active angel investors and now board members at ThirdPresence.
"ThirdPresence's scalable business model and early success with tier-1 customers such as RTL and Sanoma underscores the market need for professional mobile video publishing and the viability of SaaS solutions that are simple to use and extremely easy to deploy," said Ari Korhonen, investor and chairman of the board.
ThirdPresence is a Helsinki-based developer of a mobile video publishing and advertising platform oriented toward the needs of media companies and premium content owners. Established in 2007, the company has developed its system to provide a high-quality user experience on the vast majority of the installed base of video-capable mobile devices through a highly flexible and scalable cloud-based architecture that integrates video delivery, customizable native and HTML5 players, analytics and advertising/monetization.
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