Beringea backs Simplestream

Harriet Bailey
14 October 2014

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London-based Beringea has invested in TV streaming service Simplestream, via its ProVen VCTs.

The investment, described as "substantial", will facilitate the expansion of Simplestream's B2C live TV streaming service TVPlayer. The company also intends to add more channel packs and a multi-channel catch-up facility.

Beringea is a generalist investor with a focus on the media, healthcare and retail sectors. Earlier this year it led a $10m series-A funding round for London-based Citymapper alongside Connect Ventures, Index Ventures and Greylock Partners.

Company
Founded in 2010, Simplestream provides multi-platform live streaming and catch-up TV services. Its B2B product, Media Manager, allows broadcasters to securely stream live content to any device. Its TV Player airs more than 45 channels from both public service broadcasters and Freeview channels. It has been downloaded almost one million times in the UK.

Since 2012, Simplestream has seen 100% revenue growth and now delivers its services across Europe.

People
Rob Hodgkinson is investment manager at Beringea and will join the Simplestream board. Adam Smith is founder and CEO of Simplestream.