Press Releases
For Immediate Release
QuickPlay Media Inc. Closes $12 Million Funding Round
New Capital to Fund the Continued Innovation of its Market-Leading Mobile Video Solutions
Toronto, ON — 13 July, 2009
QuickPlay Media Inc., the premier provider of solutions that manage the business of mobile video, today announced the closing of a private placement for US $12 million. The placement was led by GMP Securities L.P. and included participation from existing venture capital partners General Catalyst Partners, JLA Ventures and Ventures West. The new investment will support the continued development of QuickPlay’s OpenVideo™ Platform and associated solutions including PrimeTime2Go.
“We are very pleased to announce this round of funding and we commend GMP for the entrepreneurial approach they’ve taken in leading the deal,” said Wayne Purboo, CEO and founder of QuickPlay Media. “Over the past year we have launched a number of very successful solutions. With this funding, we now have the ability to accelerate development efforts and further capitalize on that momentum.”
All of QuickPlay’s solutions are based on its OpenVideo platform, which connects an ecosystem of more than 150 content providers, 15 major mobile operators and powers audio and video products that reach more than 100 million subscribers. SIRIUS XM Radio’s Mobile application, which is available now on popular Apple devices including the iPhone and iPod Touch, is the latest service powered by QuickPlay. SIRIUS XM Radio follows QuickPlay’s most recently announced solution, the award-winning PrimeTime2Go premium mobile TV service which features content from leading networks including ABC, CBS and NBC. PrimeTime2Go lets consumers set their devices to automatically deliver full episodes of popular TV programs as they become available.
“The mobile entertainment industry continues to experience strong growth, and QuickPlay is well positioned to capitalize on these opportunities,” said Neil Selfe, managing director of GMP Securities L.P. “We are proud to be associated with such an exceptional company.”
About QuickPlay Media
QuickPlay Media Inc. is the premier provider of solutions to manage the business of mobile video. Successfully used by the world’s leading communications providers including RIM, Bell and AT&T, QuickPlay provides the fastest and most flexible way for companies to deliver mobile video worth watching. QuickPlay is headquartered in Toronto, with sales offices in London and the US. For more information, please visit www.quickplay.com.
About GMP Capital Inc.
GMP Capital Inc. carries on business through the following principal entities: GMP Securities L.P., Griffiths McBurney Corp., GMP Securities Europe LLP, GMP Private Client L.P., EdgeStone Capital Partners, L.P. and GMP Investment Management L.P. GMP Securities L.P. is a leading independent Canadian investment dealer focused on investment banking and institutional equities for corporate clients and institutional investors. GMP Securities L.P. can be found on the web at gmpsecurities.com. Griffiths McBurney Corp. services institutional clients in the United States while GMP Securities Europe LLP provides investment banking and institutional equity services to clients located in Europe. GMP Private Client L.P. is a full-service investment firm focused on high-net-worth private investors that provides wealth preservation, income and growth strategies delivered by seasoned investment advisors. GMP Private Client L.P. can be found on the web at gmpprivateclient.com. EdgeStone Capital Partners, L.P. is one of Canada’s leading private equity firms, providing capital, strategic direction and business and financial advice to help promising mid-market and early stage companies achieve their full potential. EdgeStone Capital Partners, L.P. can be found on the web at edgestone.com. GMP Investment Management L.P., through its private funds, seeks to generate superior risk-adjusted investment returns over the long term by executing selected investment strategies. GMP Investment Management L.P.’s offerings are aimed at both high-net-worth individuals and institutional investors. The website is gmpcapital.com. GMP Capital Inc. has offices in Toronto, Calgary, Montreal, Vancouver and London, England.
For more information, please contact:
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QuickPlay Media Inc. |
GMP Capital Inc. |