Conviva, which automates dynamic bit rate adjustment and the management of multiple distribution networks to optimize online video viewing experiences, has landed $15 million in venture funding in a round led by Time Warner Investments.
The company said the latest round of funding will be used to accelerate Conviva's international markets growth and to expand its staff to meet the growing demand for their online video solutions.
Conviva said it handles more than a billion video streams a month, helping to guarantee a high quality viewing experience that ultimately results in longer viewing times and increased revenue for content companies. It uses viewer-side statistics to preemptively adjust the video bitrate and stream source before an interruption occurs, and provides statistical insight in real-time to provide an in-depth look into how video is performing.
"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 of TWI. "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." Conviva, he said, already is a strategic partner with HBO and Turner Broadcasting.
Conviva is headed up by chief executive Darren Feher who has been with the company since 2009; he previously was EVP and chief technology officer at NBCUniversal, where he helped drive the technical convergence of traditional television and digital.
For more:
- see this release
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