Accedo, a start-up based in Stockholm, announced US$17 million in venture funding for its cloud-based video platform for its vision of providing the future of Internet distributed video services.
Accedo was founded in 2004 by Michael Lantz and Fredrik Andersson. The company’s Accedo One cloud platform is “dedicated to providing operators, broadcasters and brands with the freedom to build, manage and deploy high-quality, engaging video experiences.”
The funding round was led by SEB Private Equity, a Stockholm based private equity team and already a substantial investor in Accedo.
“The industry is undergoing tremendous change at the moment. We see rapid innovation happening and existing business models and technologies are being challenged. As an innovator in the market, we have great opportunities to set and drive the agenda during a dynamic transformation. I’m thrilled to be able to continue to lead the market in new areas over the coming years,” says Michael Lantz, CEO, Accedo.
“Accedo has built a leading position in a very dynamic and rapidly changing industry. The market trends are moving in the right directions and we expect to see continued rapid industry evolution over the coming years. We’re looking forward to supporting Accedo as we embark on the next step on this exciting journey”, commented Magnus Ramström, Investment Director , SEB Private Equity.
