Atomico backs Bitmovin's $10.3m series-A

Existing investors Dawn Capital, YCombinator and SpeedInvest also joined the round, together with a number of business angels.

The funding will be used to improve the company's video infrastructure products such as its cloud encoding and adaptive streaming player, and to develop new products.

Previous funding
According to venture capital database Crunchbase, Bitmovin received seed funding from Constantia New Business and Speedinvest in August 2014. Twelve months later, those backers were joined by CRCM Venture Capital and three business angels for another round of undisclosed size.

Company
Founded in 2013 and based in Klagenfurt and Palo Alto, Bitmovin aims to improve video quality on the web via its Bitmovin encoding service, and the streaming performance using its Bitmovin HTML5 player.

People
Atomico – Teddie Wardi (principal).
Bitmovin – Stefan Lederer (CEO).

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