Quickplay Raises CAD57 Million To Accelerate Growth
Financing underscores Quickplay’s market leadership; company will invest in growth acceleration and expansion into new markets.
Quickplay, the global expert in powering premium video to any device, today announced that it has secured $57 million (Canadian) in growth capital from private equity owner Madison Dearborn Partners, financing partner Orix Ventures and Difference Capital Financial.
With more than $150M of total investment since the company’s inception in 2003, Quickplay is now the largest end to end managed service provider, powering premium video over all networks and devices. In its decade of operation, Quickplay has set several industry benchmarks, becoming the world’s largest distributor of linear OTT TV distributing 700 channels, managing 2 million VOD assets, securing content connections to 250 premium content providers covering Hollywood to Bollywood and; servicing an addressable market of over 700 million subscribers worldwide. Quickplay powers premium video from leading content providers and to the largest service providers including AT&T, Bell, and TELUS.
The growth of over-the-top (OTT) video is accelerating at a record rate. Quickplay is scaling its managed video platform at an unprecedented pace to meet this demand, approaching a differentiating scale that will benefit current and future customers. On March 4, 2015, the company accelerated its strategy to address the promising LTE Broadcast (eMBMS) market with the acquisition of Roundbox Inc. The acquisition will enable the monetization of engaging premium viewing experiences on any device or mobile network by using multicast (one-to-many), and unicast (one-to-one) technologies.
“We have enjoyed successive years of high growth with our managed services, building a unique position that continues to disrupt the market. Quickplay is reaching a scale that makes our platform the natural choice for multichannel video programming distributors (MVPDs) and Content Providers to connect,” said Wayne Purboo, CEO and co-founder of Quickplay. “We are thrilled with the confidence shown in the potential of Quickplay with this financing - we will focus heavily on key investments that further accelerate our growth, and contribute to the success our current and future customers.”
With its recent investments, Quickplay will focus its long term strategy on reducing inherent industry inefficiencies in content delivery, and the monetization of premium Live and On-demand video to the home and on-the-go, leveraging disruptive cloud economics to enable a new world of Next Generation TV.
“The OTT market is poised for explosive growth, with global OTT video revenue predicted to reach $55.4 billion by year-end 2019, driven by rising consumer demand for TV Everywhere,” said David Mercer, VP and Principal Analyst at Strategy Analytics. “As OTT services become an integral part of the consumer’s entertainment space, the disruptive trends we are experiencing have demanded a fresh approach, with the widespread deployment of technologies such as LTE Broadcast holding strategic significance for many media players. Quickplay, together with its new investment and recent acquisition of Roundbox, looks set to potentially take the opportunity to strengthen and accelerate the future of Next Generation TV.”
Quickplay will be exhibiting at NAB Show in Las Vegas from April 13-16, in the South Hall, booth SU9505. The company will be demonstrating its Next Generation Experience Solution and the latest capabilities in LTE Broadcast and Android TV.