Video streaming technology company, MainStreaming, has raised US$6 million in a new funding round, which it will use to expand its reach in the broadcast and online gaming markets.
The Italian company said it will use the backing to grow across Europe and the US, with the round led by Milan-based VC firm Indaco Venture Partners, along with Sony Innovation Fund and existing investor United Ventures.
MainStreaming’s proprietary technology lets broadcasters stream content live and on-demand and its customers include Sky Italia, the Denver Broncos and Rolling Stone. The firm is now also expanding into the cloud gaming market.
“The online video industry is facing increasing pressure from customers, with broadcasters and online gaming providers facing particular challenges to ensure a consistent, high quality of service, particularly in live environments,” said Antonio Corrado, CEO at MainStreaming.
“With our technology specifically built for today’s streaming environment, MainStreaming is perfectly situated to offer broadcasters and online gaming providers the tools to deliver the highest quality of experience to their customers around the world.
“This latest investment will enable us to reinforce our position in the market and expand our reach across two priority regions, Europe and the United States”.
Sony Innovation Fund’s Chief Investment Officer, Gen Tsuchikawa, said: “We’re excited to join the MainStreaming family, and we have great confidence in the MainStreaming team and technology. It was the obvious choice in a world where consumer expectations around video quality and interactivity are of critical importance.”
MainStreaming is based in Milan with offices in London, New York and San Francisco. To date the company has raised more than US$10 million, including the new funding round.