Accedo has announced that it has raised $17m in equity to further drive its growth over the coming years. This round of financing was led by SEB Private Equity, a Stockholm-based private equity team and a major investor in Accedo.
“The industry is undergoing tremendous change at the moment. We see rapid innovation happening and existing business models and technologies are being challenged. As an innovator in the market, we have great opportunities to set and drive the agenda during a dynamic transformation. I’m thrilled to be able to continue to lead the market in new areas over the coming years,” commented Michael Lantz, CEO of Accedo.
Lantz and Fredrik Andersson together founded Accedo in 2004 with the aim of providing internet-distributed video services.
In addition to rolling out multiple new products for the core video experience market, Accedo has over the years entered into new business areas, including VR, AR, Voice interaction, as well as data-driven analysis of video experiences.
“Accedo has built a leading position in a very dynamic and rapidly changing industry. The market trends are moving in the right directions and we expect to see continued rapid industry evolution over the coming years. We’re looking forward to supporting Accedo as we embark on the next step on this exciting journey,” added Magnus Ramström, Investment Director of SEB Private Equity.