Media delivery technology company Streaming Global announced today the successful completion of a Series SEED private capital raise. The Company raised a total of $8 million, oversubscribing its $6 million target for the round by 25%. Terms of the round were not released but a portion of the Company’s Common Stock was sold to a number of Accredited Investors in rolling closings. Combined with the previous Friends and Family round, the Company has raised over $10 million to date.
Richard Oesterreicher, CEO of Streaming Global, said: “The success of this round during a period with unprecedented global headwinds is a testament to the strength of the Streaming Global business offering and market timing. The Company continues to chart a course of aggressive growth through unsteady times. The proceeds of this round are being used to increase in-house capabilities to deliver and support the large opportunities ahead.”
Brandon Farley, Chief Revenue Office of Streaming Global, added: “We’ve overlapped this capital raise with the successful performance of multiple Proofs-Of-Concept (POCs) across our domestic, international and military operations use cases that have proven the core business advantages we offer our customers; significantly lower media delivery cost and faster performance, at any scale. The support of our investors will enable us to continue to shift focus to the acquisition of additional customers.”
“I couldn’t be prouder of our team’s execution, our Board of Directors for the foresight of considering a modest oversubscribe in this uncertain timing, and our new and existing shareholders for stepping up to fortify the Company for growth,” concluded Oesterreicher.
[Editor’s note: This is a lightly edited press release.]