Accedo Raises $17M In Growth Capital

OTT provider Accedo said today that it has raised $17M in equity to further drive its growth over the coming years. This round of financing was led by SEB Private Equity, a Stockholm based private equity team and already a substantial investor in Accedo.

Accedo was founded in 2004 by Michael Lantz and Fredrik Andersson with the vision of providing the future of internet distributed video services.

Michael Lantz, Accedo CEO, said: “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.”

In addition to rolling out multiple new products for the core video experience market, Accedo has over recent years entered into new business areas, including VR, AR, voice interaction, as well as data-driven analysis of video experiences.

“Accedo has built a leading position in a very dynamic and rapidly changing industry,” said Magnus Ramström, investment director, SEB Private Equity. “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.”

Accedo will be demonstrating its latest innovations at CES in Las Vegas Jan. 8-11 at the Venetian, Suite 29-125.