iStreamPlanet Announces Investment Agreement by Juniper Networks
iStreamPlanet, the leader in live streaming video solutions, announced today that Juniper Networks has completed a strategic investment in iStreamPlanet's Series A funding, which was led by Intel® Capital. The investment will be funded by Juniper Networks' Junos® Innovation Fund. iStreamPlanet plans to use the proceeds from its Series A financing to accelerate the development of its live video streaming solutions, including Aventus®, a cloud-based, live video workflow platform designed to address the challenges of streaming live events and live linear channels online to multiple platforms and devices. One of the key advantages of Aventus is its ability to move the live video workflow from today's hardware-dependent infrastructure to a software- and cloud-based infrastructure.
The relationship combines iStreamPlanet's innovations and experience in providing scalable and cost-effective live video workflow solutions with Juniper's industry-leading networking and caching technology to provide a reliable, secure, and high-performance platform for content providers. The two companies have worked closely in the past to deliver complex, live video workflows for major live events, including the 2012 London Games.
"We are developing and bringing to market a next-generation automated video workflow platform, which will help content holders and distributors keep pace with the growing demand for live streaming video and accelerate new business opportunities for broadcasters of all sizes," said Mio Babic, CEO of iStreamPlanet. "Juniper Networks' commitment to innovation in networking and caching in the cloud closely aligns with our vision and customer demand, and we are excited to be working with them and leveraging their expertise in this area."
"Live streaming media is one of the most demanding networking and caching scenarios, and one of the fastest areas of growth and opportunity," said Robert Krohn, vice president and general manager, Edge Software Business Unit, Juniper Networks. "Keeping up with customer demand will require solutions with new levels of scalability and automation, and iStreamPlanet and Juniper Networks are now on a fast track to bring this type of solution to market."
The Junos Innovation Fund is a venture capital fund, launched in 2010 and backed solely by Juniper Networks, that invests in leading early- and growth-stage technology companies that expand and enhance the Junos ecosystem.
iStreamPlanet is a premier, multiplatform video-workflow solutions provider committed to bringing high-quality streaming video experiences to connected audiences around the world. With more than a decade of live streaming video experience, iStreamPlanet has built a comprehensive offering of cloud-based video-workflow products and services for live event and live linear streaming channels. iStreamPlanet's innovative approach has been chosen by the world's leading sports, entertainment, and technology brands including NBC, Turner Broadcasting, Notre Dame Athletics, AT&T, Pac-12 and Microsoft. Founded in 2000, the privately held company is headquartered in Las Vegas with offices in Redmond, Wash., and London.