Muiltiscreen video tech company Quickplay has secured $57 million (Canadian) in growth capital from private equity owner Madison Dearborn Partners, financing partner Orix Ventures and Difference Capital Financial.
The company said the new cash will be used to accelerate growth and expansion into new markets.
Since its 2003 launch, the privately held company has raised more than $150 million in funding. Quickplay powers premium video from content providers to some of the largest service providers including AT&T, Bell, and TELUS.
Based in Toronto, the company this month also acquired Roundbox to help it address the LTE broadcast mobile market. The deal enables it to monetize premium video on any device or mobile network by using multicast (one-to-many), and unicast (one-to-one) technologies.
“We are thrilled with the confidence shown in the potential of Quickplay with this financing,” said Wayne Purboo, CEO and co-founder of Quickplay. “We will focus heavily on key investments that further accelerate our growth, and contribute to the success our current and future customers.”
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