Highland Europe leads $30m series-B for Bitmovin

VC firms Atomico and Dawn Capital also took part, alongside corporate venturing arm Constantia New Business and startup accelerator Y Combinator.

The fresh capital will be invested in recruitment for its research and development, field engineering and sales teams.

Bitmovin reported revenue growth of 3.5x on the previous year for 2017 and projects a similar rate for 2018.

Previous funding
Speedinvest and Constantia made a seed investment in Bitmovin in August 2014. A year later, Bitmovin went through the Y Combinator summer programme and attracted capital in the US, securing a funding round led by CRCM Venture Capital.

Atomico led Bitmovin's series-A in September 2016, investing $10.3m alongside Dawn Capital and Speedinvest.

Company
Bitmovin was founded in 2013 as a spinout from Klagenfurt university in Austria. The company now has additional offices in London, New York, San Francisco and Hong Kong. It develops video encoding software that improves the quality of streaming services. It recently launched a royalty-free codec called AV1 with the support of Apple, Facebook, Google, Microsoft and Samsung.

People
Highland Europe – Fergal Mullen (partner).
Bitmovin – Stefan Lederer (CEO).

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