Clearleap Secures $20 Million Led by Investor Susquehanna Growth Equity
Series C Comes Amidst Rapid Growth in the US and Abroad
November 13, 2013 --
ATLANTA, GA -- (Marketwired) -- 11/13/13 -- Clearleap, the leading provider of multiscreen video logistics for the television industry, announced that it has closed a $20 million round of funding, bringing its total financing to $36 million. Susquehanna Growth Equity led the round with participation from Clearleap's existing investors: Trinity Ventures and Noro-Moseley. The new round comes on the heels of the company's recent launch into the European market and will be used to further accelerate Clearleap's domestic and international expansion.
Clearleap's multiscreen platform provides the framework for leading content owners and television providers as they enhance their existing video services while developing new ones. The company has experienced tremendous growth in recent years as companies like HBO, Verizon, Time Warner Cable, the Food Network, and Travel Channel have turned to them for a reliable and efficient way to meet growing consumer demand for video content across every screen.
"Consumer demand for better, more varied and more flexible viewing options has been the catalyst for massive change in the TV industry, and what we're seeing today is really just the beginning," said Clearleap CEO Braxton Jarratt. "Our goal is to become the technology partner of choice for every content owner or service provider looking to supercharge their efforts to deliver video across every screen. This round of funding enables us to realize this goal much faster and cement our reputation in this space."
"The proliferation of internet-connected devices with video streaming capabilities has caused content producers and distributors to seek new solutions to help them efficiently manage their multiscreen, TV-everywhere experience," said Scott Feldman, Managing Director at SGE. "Clearleap has developed a software platform that offers purveyors of video content a cost effective, scalable alternative to high fixed-cost, hardware-dependent solutions. Braxton and his team are leading this massive shift in spending with a true cloud-based, SaaS solution that we expect to set a new standard in the video content and subscriber management industry."
Clearleap was recently listed as #364 on the Inc. 500 list (up from #1067 in 2012), making it the fastest-growing software company in Georgia. The company has aggressively expanded its employee base in the last year and plans to hire another 150 new employees in the next 18 months.
About Clearleap, Inc.
Clearleap accelerates the delivery of multiscreen services by alleviating the business, operational, and technical challenges facing content owners and video service providers in offering high-value video entertainment on all screens. Clearleap's innovative and modular software platform leverages massively scalable, secure, and redundant data centers and is in use today by many of the industry's largest brands. Privately held, Clearleap has its global headquarters in Atlanta with offices in NYC and San Francisco, and a European headquarters in Amsterdam, Netherlands. For more information, please visit www.clearleap.com.
About Susquehanna Growth Equity
Susquehanna Growth Equity (SGE) was founded in 2006 as an affiliate of Susquehanna International Group. We invest in growth stage technology companies in the software, information services, internet and financial technology sectors. We have access to a unique and patient capital base: one we believe allows our management teams the freedom and flexibility to maximize growth. To learn more, please visit us at www.sgep.com.
For further information please contact:
LaunchSquad for Clearleap
Clearleap(at) launchsquad(dot) com
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