What Company Is Offering:
LiveU develops and markets video transmission technologies and services that enable Internet portals and video broadcasters to uplink and transmit live instantly, anywhere, and at anytime. Live U is headquartered Fair Lawn, New Jersey, with R&D operations based in Kfar Saba, Israel. LiveU is a privately held company, backed by Canaan Partners, Carmel Ventures and a private investors group led by Mr. Yigal Yaacobi.
How Much They Got From VCs:
LiveU Inc., developers of unique technologies and products for the transmission of live video over wireless networks, today announced that it has raised $9 million in a second round of financing. Canaan Partners and Carmel Ventures led this round. LiveU has raised more than $12 million to date.
LiveU's expertise is in developing cutting-edge technology for transmission of live video directly from the field to the Internet and TV, by using wireless networks such as 3G cellular data, Wi-Fi, and WiMAX, without any need for dedicated infrastructure. These video transmissions boast high quality and low costs, which allows any Internet portal to provide live coverage to its users. LiveU's business model is based on providing its customers with a remote video transmission service based on pay-by-use pricing. The service is already being used by a premier Israeli sports portal, ONE.CO.IL, and leading community portals, sport sites and news blogs in the U.S. , and is also being piloted by a number of prominent national and international TV broadcasters.
LiveU's CEO, Shmuel Wasserman, said that finalizing this round of investment will allow the company to rapidly expand its marketing, sales and customer service departments both in the U.S. and worldwide, while continuing to develop more advanced versions of the product and further uses of the technology. "We are proud to have been validated by such prominent funds," said Wasserman. "Investors such as Canaan Partners and Carmel Ventures are a strategic advantage for us, and I am confident that their professional assistance will contribute greatly to LiveU's success and global expansion."
More at:http://www.liveu.tv/
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