Streamroot, a developer of OTT video optimization technologies, has secured an additional $3.2 million in funding from existing and new partners, bringing the company’s total financing to $6 million.
Partech Ventures, Techstars Venture Capital Fund, Verizon Ventures and R/GA participated in this round.
Since its founding in 2014, Streamroot has been selling its webRTC-based peer-to-peer delivery technology to a host of online video publishers.
Pierre Louis Theron, Streamroot co-founder and CEO, told FierceOnlineVideo that it will use the funding to accelerate its development and expand its U.S. and European staff. .
“We started out of Europe with multiple teams in Paris and 5-10 people in the United States,” Theron said. “Our focus is now on working on a number of large deals in the U.S.”
The company, which counts Dailymotion, Canal+, Eurosport (part of the Discovery Communications group) and Russia Today among its customers, has been able to quickly establish itself as an emerging player in the distributed OTT delivery solution segment.
In a short three years, Streamroot said it has multiplied the traffic managed on its platform by 500, and now powers more than 400 million video sessions every month.
Theron said that Streamroot is targeting broadcasters and other online video providers with methods to enhance QoS at an affordable rate.
“The big problem is how to maintain the best quality of service possible with HD, 4K experience while maintaining costs,” Theron said. “When you increase the quality, one of the biggest problems are the associated costs.”
Streamroot has created what the company says is a new approach to ensure video quality. This new approach incorporates a hybrid peer-to-peer technology that leverages users to deliver video and is embedded into the web application a user interfaces with to get their services.
“If you had 100,000 people watching online an ESPN application to watch the latest Patriots game instead of having 100,000 people download the content directly, we are connecting all of these users to create a huge peering network,” Theron said. “Users can download the video content directly from the server.”
The solution can improve the QoS in two ways: scale and the quality of the CDN in certain regions.
“By using the last mile network and our peer-to-peer technology, we can improve the user experience and quality of service,” Theron said. “At the same time, we solve the cost problem.”