The money will help the small 15-person team expand in a global battle for video supremacy
Milan-based video startup MainStreaming has raised a €4 million Series A funding round, the company announced early Monday. United Ventures SGR led the deal.
The heart of their business is in the real-time distribution of video over the web designed for big-name broadcasters and media companies. They also offer video hosting, professional consulting on video distribution, and branding of their company’s HTML5-and-Flash-compatible video player.
MainStreaming claims their big advantage comes from the lack of cache, “guaranteeing a notable reduction in energy consumption and the use of less [sic] servers.” They add their video technology and distribution model is designed to meet the needs of Over-the-Top Television (OTT TV), what they call an “emerging market.”
They also boast that while Content Distribution Networks (CDNs) typically rely on caching data and exert a lot of pressure on devices, MainStreaming is built lean.
“The traditional CDNs work [by] copying the content near the final users. Usually they make a copy of the content in every carrier in every country. We don’t do like this,” MainStreaming CEO Antonio Corrado conveyed to Geektime. “Our technology is not based on caching, we have invented a new way to distribute video globally.”
They have done their best to make their video platforms adaptable. Knowing they are facing an old market with a lot of players, they designed their video conduit to work on multiple formats.
“We use two different video players, one in HTML5 and another in Flash to serve different web browsers and devices, the player automatically adopts HTML5 or Flash technology which can be used on any device (computers, smart phones, tablets, and Smart TVs),” Corrado added in an email.
The potential here is enormous: the video streaming market could be worth $70.05 billion by 2021 according to Markets and Markets. MainStreaming names their main competitors as San Jose-based LimeLight, public company Akamai, and SF startup Fastly which last raised a $75 million Series D funding round led by ICONIQ Capital back in August 2015.
“The video sector is one of the strategic sectors that will offer opportunities for exponential growth in the next few years,” stated United Ventures’ managing partner, Massimiliano Magrini, whose firm purports to have €70 million under management and investments in Cloud4Wi, FaceIt, MoneyFarm, MusiXmatch, BuzzMyVideos and LOVEThESIGN.
“In MainStreaming we have found a group of entrepreneurs with ambition and expertise to establish a potential leader in the Video Delivery sector.”
MainStreaming was founded by CEO Antonio Corrado, COO Philippe Tripodi, and CTO Giovanni Proscia. They currently have 15 employees but plan to expand thanks to the new funds.