By Rob Toms
Mediamorph, a leading global provider of cloud-based software and managed services to the digital media industry has received a further $2M funding from London-based venture capital firm, Smedvig Capital.
Smedvig initially invested in the business in January 2012, and has since worked with senior management on rapidly building the team, as well as multiple aspects of scaling the operations.
Since investment from Smedvig, the business has more than doubled its customer base – from 15 to 35 customers – including adding marquee customers such as BBC Worldwide, Dish Networks, ITV, Paramount and Viacom. It has also opened a London office to support significant growth in Europe.
Strategically the business has continued to gain traction, launching Video Operator and Digital Retailer Offerings which are already being used by customers including Comcast, Dish Networks, Cablevision and Mediacom. Mediamorph has also recently been appointed as the official Digital Data Tracker for the global home entertainment industry; producing competitive reporting of digital downloads for television and film in 12 territories.
Looking ahead, the 2013 calendar year promises to end on a high-note, as the business is on track to nearly triple revenues achieved in 2012. Smedvig Capital will continue to support the business in the long-term, working with senior management to fulfil ambitious growth plans.