Toronto-based startup and MaRS client SeaWell Networks, which develops multi-platform video delivery software for network operators, has announced that it's secured $5 million in Series B investment. Led by Northwater Intellectual Property Fund LP 2, with participation by BDC Venture Capital, the funding round "will be used to support ongoing trials with customers, expand sales and distribution, and continue to augment the development of Spectrum," the company's core product.
"SeaWell's experienced team is well on their way to changing the video delivery industry," said Krista Jones, Practice Lead in MaRS' Information Technology, Communications and Entertainment (ICE) practice. "This financing round is demonstrative of the support for the team and their vision."
"This is an important step for SeaWell and demonstrates continued support from our founding partners," said Brian Collie, co-founder and CEO of SeaWell Networks. "As the industry continues to take huge strides toward broadband video, our vision of putting intelligence into the network comes into focus."