OTT firm Visual Unity captures $7.2MN from 3TS Capital Partners
| 14 June 2014
Over the top (OTT) platform and multiscreen solution provider Visual Unity has been given a huge boost in the form of a $7.2 million cash investment by growth capital technology fund 3TS Capital Partners.
3TS is initially acquiring a minority stake in Visual Unity and commits to supporting the company at both a strategic and operational level. Visual Unity says that it will use the investment to strengthen its delivery of end-to-end OTT solutions on a global scale and achieve its goal of being the leading provider of OTT and multiscreen solutions. In particular, the funding will support the growth of an international customer base and hasten leading-edge development for its flagship OTT platform vuMedia.
"This is an exciting time for Visual Unity, with 3TS taking a key role in the future success of our company,Ē said company founder and CEO Tomas Petru. ďOur robust, end-to-end product is already used by our customers worldwide. We support close to 10.000 different screens and devices in conjunction with every conceivable monetisation method. 3TSís diligent examination of, and investment into our product portfolio not only attests to its innovation, but will be instrumental in fuelling our sales, marketing and development expansion."
3TSís investment derives from its Cisco, EBRD, EIF and OTP backed growth capital fund, which focuses on investments in fast growing technology companies primarily in Central and Eastern Europe.
"Our strategic investment into Visual Unity will enable a strong focus in product development, while reaching previously untapped markets around the world," added managing partner of 3TS Capital Daniel Lynch. "We look forward to establishing Visual Unity as a global leader in OTT and multiscreen products and services."