Press Releases
For Immediate Release
QuickPlay Media Closes $15 Million in Series C Financing
New Capital Will Fund Global Expansion and Platform Development
TORONTO, ON - September 19, 2007
QuickPlay Media, the leader in mobile TV and video solutions, today announced it is has completed a $15 million USD Series C financing round led by Ventures West. Also participating were General Catalyst, J.L. Albright Venture Partners and Up Capital Ltd. The new investment will support QuickPlay’s continued global expansion and fund further development of QuickPlay’s OpenVideo™ mobile video platform.
“The Series C financing strongly positions QuickPlay to respond to the growing demand from mobile operators for the unique video solutions made possible by QuickPlay’s OpenVideo platform,” said Wayne Purboo, CEO and co-founder of QuickPlay Media. “OpenVideo is not only a rapid go-to-market solution, but for operators already offering video services, it manages the increasing complexities associated with the significant growth in available content, customers and transactions.”
QuickPlay’s OpenVideo platform powers mobile video services for 10 major mobile operators in Canada and the United States, providing both live and on demand content from over 120 different media companies. Key features of the QuickPlay service delivery platform include a superior content management system, open APIs for ease of partner integration and advanced service delivery capabilities.
"The move to mobile is a tectonic shift that will change the face of entertainment and technology" said Robin Axon, Partner at Ventures West. "Video is one of the 'killer applications' driving this shift, and QuickPlay's OpenVideo Platform not only makes it possible, it makes it easy for a mobile operator to deliver a superior end customer experience.
About Ventures West
Ventures West Capital Ltd., a private venture capital investment group, is one of Canada's leading investors in seed and early stage technology companies. Since its founding 1968, Ventures West has formed eight venture capital funds which total over $700 million and has invested in more than 150 companies. Ventures West has the people, the expertise, and the capital to help entrepreneurs develop emerging technology companies into market leaders. For more information, visit www.ventureswest.com.
About QuickPlay Media
QuickPlay Media provides content management and service delivery solutions for mobile television and video services. The QuickPlay OpenVideo™ platform offers maximum flexibility and streamlined application integration for mobile operators and technology partners. OpenVideo works in many different mobile media ecosystems, operating seamlessly with major search, billing and user interface frameworks. QuickPlay Media Inc. has offices in Toronto, San Francisco and London. For complete information, please visit www.quickplay.com.
For more information, please contact:
QuickPlay Media Inc.
Leo Tignini
Horn Group
Tel: (646) 688-0590
Email: ltignini@horngroup.com
Ventures West
Christine Ramsay
Director of Marketing and Communications
Ventures West Capital Ltd.
Tel: (416) 861-2280
Email: cramsay@ventureswest.com
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