Skyfire Raises $10 Million Series D
Skyfire is a mobile and video cloud solutions company that has raised $10 million in Series D funding to expand their presence in Europe and Asia. This round of investment was led by Panorama Capital. Other investors in this round include Matrix Partners, Trinity Ventures, Verizon Ventures, and Lightspeed Venture Partners.
Skyfire said that the cash will help them meet the demands of their wireless operator customers. Skyfire will be hiring staff to help with existing relationships in Eastern Europe, Japan, Southeast Asia, and Australia.
“Data deluge is crushing mobile operators, straining the user experience, and squeezing operating margins,” stated Skyfire CEO Jeff Glueck. “Operators in Europe have announced that bandwidth on 4G LTE networks is being filled 85% by video alone. Our new funding lets Skyfire take our proven technology in North America to new regions on a global scale.”
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry