Knetik snags funding and support for OTT play from DMG
Michelle Clancy | 04-10-2013
Knetik Media has secured DMG Worldwide Consulting as the lead investor for its upcoming funding round launching the first quarter of 2014.
David Greene, an established finance executive, is providing working capital in advance of the next round to continue Knetik Media's rapid development of its over-the-top (OTT) platform for the gaming and new media sectors. DMG Worldwide Consulting provides strategic planning, CFO services, legal services and increased liquidity opportunities.
Knetik Media CEO Shane Robinett said the partnership with DMG Worldwide means Knetik Media can fast-track critical development on the Knetik platform and position the company for strong revenue growth in the fourth quarter, throughout 2014 and beyond.
"The influx of capital is going to immediately allow us to add several jobs to our development team," said Robinett. "David is a dynamic fund-raiser with a keen understanding of the capital markets. We look forward to his firm's efforts leading the Series A financing."
Greene said that he believes that Knetik Media is poised for explosive growth with its OTT video platform.
"Knetik Media has an impressive track record of serving telecommunications companies, broadcasters, as well as game developers and publishers both in the United States and globally," said Greene. "In order to maintain its strategic advantage, Knetik must continually update its platform to retain its best-in-space product offering.''