has secured $15 million in a mezzanine investment from venture capital and banking sources enabling the company to extend its leadership position in the Video over IP market. Driven by record unit orders delivering unrivaled numbers of video channels worldwide, Envivio is experiencing 100% year-over-year sales growth.
To reinforce its progress, Envivio has strengthened its executive management team in recent months. Erik Miller, a seasoned financial executive with over 20 years’ experience at successful technology companies where he has raised significant amounts of private equity and has listed two companies on the NASDAQ, has joined as CFO. Kevin O’Keefe has taken on the role of COO and brings extensive experience in scaling field operations at technology companies to $300 million+ in annual revenue. Envivio’s Chairman of the Board, Gianluca Rattazzi, has taken an increased role at the company as Executive Chairman to assist with Corporate and Business Development. He brings 25 years’ experience with technology startups, having filed successful IPOs as CEO and founder of three prior companies.
Contributing Factors and Events
- Envivio has been extremely active in the cable market, including extensive involvement in new service introductions and trials for the top five cable services providers in North America.
- The company has recently secured significant new opportunities by expanding distribution channels and relationships with several major partners, notably Ericsson in North America and Europe; Huawei in Asia and the Middle East; SeaChange in the U.S. and multiple international markets; and Axcera and LARCAN in the U.S for opportunities with national and local broadcast television stations.
- Envivio introduced a new category of Over the Top solutions, which have already been tapped for the launch of innovative new breeds of service including Sezmi in the United States and FetchTV in Australia.
- The company has been a lead contributor in the expansion of some of the world’s most compelling video services such as the mobile offerings from BSkyB, Chungwha Telecom, Orange, and StarHub, in addition to Internet TV services from multiple providers including Portugal Telecom and Turk Telecom subsidiary TTNET.