Toronto-based Seawell Networks has secured $7million in a Series A round of financing led by BDC Capital and included Northwater Intellectual Property Fund and Ontario Centres of Excellence. Seawell is a provider of Internet video distribution products which they have been working on since their launch in 2008. The company will use this round of financing to further expand their development and marketing marketing efforts.
SeaWell has the three key ingredients for success – a world-class team of proven entrepreneurs, an innovative solution and a large market opportunity with a highly compelling value proposition,” said Northwater Vice President and current SeaWell director, Andrew Harrison. “We look forward to continued work with the team to establish SeaWell as the new standard for online media streaming.”
Nazmin Alani, Managing Director, Venture Capital, BDC Capital will join the SeaWell Board of Directors.
Source: TechCrunch
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