Israeli video optimization company Beamr has raised $15 million in a financing round led by Disruptive Growth and with the participation of previous investors Marker LLC and Eric Schmidt's Innovation Endeavors. Beamr is also acquiring video conversion tech firm Vanguard Video to bolster its line of video encoding, media compression and optimization products, "Reuters" reports. No financial details about the acquisition were disclosed.
Beamr is headquartered in Tel Aviv and was founded in 2009 by CEO Sharon Carmel.
Beamr said that the acquisition will enable it to achieve unprecedented levels of video quality at very low bit rates to allow cable, satellite, mobile and other operators to deliver high quality video over congested networks.
Beamr added that, "It will enable users to stay below newly-imposed ISP data caps, while still enjoying full HD (high definition) content on a variety of connected devices."
Beamr says that with 80% of internet traffic predicted to be video by 2019, the industry is seeking to stave off network congestion by incorporating compression solutions to shrink files sizes.
Carmel said, "From an industry perspective, the combination of Beamr and Vanguard Video brings unmatched solutions for the broadcast and OTT content delivery market. For Beamr, the acquisition is an important milestone, and we gladly welcome our new, talented colleagues from Vanguard Video, to the family. On a personal note, it's no secret that I'm fanatic about quality, and we have found that Vanguard Video's encoders produce the best visual quality, at the lowest bit rates, with the highest performance levels. Together we will lead the video encoding market by far with unprecedented quality and performance."
Published by Globes [online], Israel business news - www.globes-online.com - on March 29, 2016
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