Video e-commerce platform Cleeng has closed its Series B round on €5m to help it drive product development.
Dutch venture capital firm Walvis led the investment, which also saw contributions come from existing backer C4 Ventures. Following the investment, TiVo sales VP Vincent Gravesteyn will join Cleeng’s supervisory board, joining existing board member Olivier Huez, form C4 Ventures.
Amsterdam-based Cleeng is an e-commerce solution for the use of videos online. Its products include live pay-per-view, subscription management, live streaming channels, viewership analysis, and video watermarking.
The pay-per-view service provides clients with access to payments from 167 countries, financial reporting, subscription and membership setup and management, rentals, payment from multiple transaction methods, social discounts, social logins and real-time reporting.
Some of the company’s clients include broadcaster networks Foxtel, Sinclair Broadcast Group, Sky News, and media brands such as Feld Entertainment, and Cyberobics/McFit.
This line of equity will be used to foster product development and growth across key markets, focusing on the US, Europe and Asia. Cleeng will also bolster its sales and marketing efforts, broaden its partner network and invest into research and development.
Walvis managing director Vincent Gravesteyn said, “Cleeng’s team has built a highly reliable and technically advanced video e-commerce platform for the broadcasting ecosystem. Premium videos are increasingly central to every media and content strategy today. Cleeng’s innovation in this space offers valuable opportunities for business efficiencies.”
Last year, C4 Ventures took part in the $33m Series C round of e-commerce fraud prevention solution provider Riskified.
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