Signiant, a leading provider of secure file transfer software for the media and entertainment industry, announced a majority growth investment from Battery Ventures. The terms of the deal were undisclosed.
Signiant’s technology enables large media files — from movies to TV shows to sports and news content — to move through the media supply chain quickly and securely, regardless of where the files are stored. The core technology is becoming more critical as media companies increasingly produce rich, effects-laden content for distribution across various online streaming platforms, often involving creators and vendors in multiple locations. From its key position at the foundation of the media tech stack, the company is now expanding the functionality of the file transfer SaaS platform into adjacent media services.
Signiant’s flagship products are utilized by some of the largest media and entertainment companies in post-production, professional sports, gaming, and broadcast/cable TV sectors. And customers include large companies such as NBCU, Warner Brothers Discovery, Ubisoft, the National Hockey League, and many smaller companies throughout the global media ecosystem.
Signiant will use the funding from Battery to fund product development, go-to-market activities, and potential future acquisitions in the media technology space. The company previously completed two add-on acquisitions, which expanded Signiant’s product footprint. The company remains committed to pursuing future acquisitions to serve its customers better.
Pharus served as exclusive advisor to Signiant on the transaction and Mintz Levin acted as counsel to the company.
KEY QUOTES:
“We are thrilled to partner with Battery, a firm with a long history of scaling enterprise SaaS businesses, to begin writing the next chapter of the Signiant story. Both the company and the media industry are at inflection points. We feel our solutions are uniquely suited to meet the current moment in media and entertainment, which demands the type of efficiency and fast time-to-value that only a modern multi-tenant SaaS platform can deliver.”
– Signiant Chief Executive Margaret Craig
“As the production of media content becomes more specialized and complex, owing to advancements in video and sound quality, and fancy visual effects, it means media files have gotten larger and more difficult to move around and track. In our view, Signiant has cracked the code on how to tackle this problem, building a robust SaaS business to facilitate the transfer of these files in a secure way. And we see the opportunity to grow the company’s market even more.”
– Battery Partner Dave Tabors*
“Signiant’s solutions, including its Media Shuttle product—which uses a proprietary protocol to move files over any IP network, between both public cloud and on-premises storage locations–are high-quality and extremely sticky among its customers. We’re excited to work with the company to fuel further growth, both organic and through potential acquisitions.”
– Roland Anderson*, a Battery principal
*Both Tabors and Anderson are joining Signiant’s board.
