TVU Networks Secures Significant New Round of Investment Funding
New Round of Financing from SoftBank Ventures Korea, Altos Ventures, and New Atlantic Ventures Will Drive Innovation in IP-Based Video, Expand Global Market Presence
Mountain View, CA(20 Feb 2013)
TVU Networks, the global technology leader in mobile live broadcast solutions, announced today that the company has secured a new round of investment funding. SoftBank Ventures Korea (SBVK) has joined TVU's initial investors Altos Ventures and New Atlantic Ventures in providing a new round of funding that will enable TVU to accelerate its industry-leading innovation in IP-based video transmission, management and distribution solutions; further its market leadership in North America, Asia, the Middle East and Africa; and expand its global market presence in Europe and Latin America.
"SBVK is always looking to partner with innovative technology companies with demonstrated global reach, solid market momentum in its products, and strong underlying financials. TVU Networks perfectly fits this profile and is an ideal addition to the SBVK portfolio. Specifically, TVU's innovations in mobile video solutions have made a significant impact on how news is covered by major news organizations and TV stations throughout the world," said Greg Moon, CEO and president, SBVK. "TVU has demonstrated the ability to achieve its technology leadership position with only a minimal amount of capital due to its in-depth understanding of the broadcast industry and expertise in video compression, Internet, and wireless communication technology. We look forward to partnering with TVU to drive the company's continued technological innovation and global growth."
"SoftBank is a recognized technology leader in global telecommunications infrastructure, which is a key element in our solutions. Our partnership with SBVK will not only provide financial assets, but will also include access to a deep network of global telecommunications expertise and partnerships. We are thrilled to partner with SBVK to continue to advance TVU's rapid growth and success, and look forward to a strong continued relationship with Altos Ventures and New Atlantic Ventures," said Paul Shen, CEO, TVU Networks. "TVU has led the movement to IP-based video in the broadcast industry. We are committed to delivering further innovation for the broadcast industry and to bring our video solutions to industries beyond broadcast such as law enforcement agencies around the globe."
Over the past three years, TVU Networks has been a field-tested leader in the evolution of mobile newsgathering tools. The company introduced the world's first HD newsgathering backpack, the TVUPack TM8100, in early 2010. The next year, TVU introduced TVU Anywhere, the world's first fully-integrated newsgathering app for mobile devices. TVU has been at the forefront of developing smaller, ultra-lightweight 3G/4G mobile uplink solutions with the introduction of the TVUPack Mini and the TVUPack Mini SE. The company most recently introduced TVUPack TM8200, the world's first modular cellular uplink solution, and the smallest, lightest and most powerful uplink backpack available on the market.
Already in use by hundreds of leading broadcast organizations around the world, the TVUPack family of products gives broadcasters satellite and microwave TV truck functionality in a lightweight, portable and untethered form. TVUPack is the original one-button-operation newsgathering backpack, is simple to use, and provides broadcasters with a low-latency signal that enables them to broadcast live at any time and from any location. The TVUPack family of products has been used to deliver professional-quality live HD footage of a number of important events on every continent including the London Olympics, U.S. presidential election primaries, the World Cup, Hurricane Sandy, the World Series, and the Super Bowl.
For more information about TVUPack and other TVU Networks broadcast solutions, please visit www.tvupack.com.
About TVU Networks:
TVU Networks provides broadcast organizations around the globe with innovative wireless electronic newsgathering (ENG) and Internet broadcasting solutions. Since its founding in 2005, TVU has provided solutions that enable any size broadcaster to overcome the limitations of traditional broadcasting infrastructure, expand distribution to a wider audience and capture and broadcast live video content in a cost effective way. TVU Networks is privately held and is headquartered in Mountain View, Calif. with offices in New York, Boston, Raleigh, North Carolina and Shanghai, China. More information about TVU Networks can be found at www.tvupack.com.
About SoftBank Ventures Korea:
Established in 2000, SoftBank Ventures Korea has formed more than 10 funds and has invested approximately 290 billion KRW, equivalent, across 130 startup companies (2012 2H). SBVK is a venture capital subsidiary of SOFTBANK Group, one of the largest technology and telecommunications corporations in the world, focused on mobile communications, broadband infrastructure, fixed-line telecommunications, and internet culture. SBVK is committed to investing in and supporting companies and entrepreneurs with disruptive technologies and innovative ideas to change the world.