Wireless Live Video Streaming Company LiveU Raises $11 Million

Posted Nov 4, 2010

LiveU has raised an $11 million Series C round of funding. LiveU is known for streaming wireless live video from a backpack device. LiveU has a low cost option for HD video streaming that broadcasts directly from a website, TV, or a device. Pitango Venture Capital, Carmel Ventures, and Canaan Partners are the three investors in this round of funding.

?Finalizing this round of investment will allow the Company to expand its presence as a significant player in global markets, in parallel to completing the development of next-generation products, based on our extensive experience working with top-tier TV and news organizations,? stated LiveU CEO Samuel Wasserman. ?I am delighted that a tier-one fund such as Pitango is joining LiveU?s prestigious list of investors. I am certain that together with the current investors, Pitango will contribute greatly to LiveU’s development and success as a global company.? LiveU was founded in 2006 and their video streaming has jumped 650%.

[Red Herring]