iStreamPlanet Announces Investment Agreement With Juniper Networks
iStreamPlanet and 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 networking and caching technology. The two companies have worked closely in the past to deliver complex, live video workflows for major live events, including the 2012 London Olympics.
“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.