Streaming Global Completes $8 Million Private Capital Raise
Streaming Global has successfully completed a Series SEED private capital raise. The company raised a total of $8 million, oversubscribing its $6 million target for the round by 25%.
“The success of this round during a period with unprecedented global headwinds is a testament to the strength of the Streaming Global business offering and market timing,” says Richard Oesterreicher, CEO of Streaming Global. “The Company continues to chart a course of aggressive growth through unsteady times. The proceeds of this round are being used to increase in-house capabilities to deliver and support the large opportunities ahead.”
Terms of the round were not released but a portion of the company’s common stock was sold to a number of Accredited Investorsin rolling closings. Combined with the previous Friends and Family round, the Company has raised over $10,000,000 to date.
“We’ve overlapped this capital raise with the successful performance of multiple Proofs-Of-Concept (POCs) across our domestic, international, and military operations use cases that have proven the core business advantages we offer our customers; significantly lower media delivery cost and faster performance, at any scale,” says Brandon Farley, Chief Revenue Office of Streaming Global. “The support of our investors will enable us to continue to shift focus to the acquisition of additional customers.”
“I couldn’t be prouder of our team’s execution, our Board of Directors for the foresight of considering a modest oversubscribe in this uncertain timing, and our new and existing shareholders for stepping up to fortify the Company for growth,” concludes Oesterreicher.