Mississauga's
Seawell Networks recently announced the closing of a
$5-million Series B funding round, which Seawell VP Andy Beach says will finance the video software company's rapid growth.
"We're at a stage where we're expanding the company to get into the market in a larger way," Beach says. "This funding will allow us to do that."
Seawell was founded in late 2008 to help solve some problems for network operators with delivering video to various devices. Seawell's technology allows operators a system to provide video with a better user experience, and gives them more control over various elements of the streaming process, including the display of ads.
The company has grown, Beach says, from about 20 staff to 28 in the past 12 months, and expects to hire another 10 to 12 in the coming year, including sales and marketing staff and developers.
Writer: Edward Keenan
Source: Andy Beach, VP Marketing and Product, Seawell Networks