Finnish Cloud-TV Company Booxmedia Closes an Investment Round Successfully

PRESS RELEASE – 20th March 2014

Finnish Cloud-TV Company Booxmedia Closes an Investment Round Successfully

Finnish cloud-TV technology company Booxmedia has raised a financing round of EUR 450 000 from existing shareholders. Tekes – the Finnish Funding Agency for Innovation – has invited Booxmedia to the second stage of its ‘Young Innovative Growth Companies’ – programme.

Booxmedia offers end-to-end cloud-TV technology solutions for broadcasters, media companies as well as broadband, cable and mobile operators. Booxmedia’s cloud-TV software suite provides live TV, video on demand, and personal video recording services on all major platforms, such as mobile and tablets (running iOS, Android, or Windows Phone), smart-TVs and game consoles, as well as with web browsers on a computer. A content owner, for example a broadcaster, can build a complete IPTV with Booxmedia’s technology solutions in just weeks.

In its domestic market, Booxmedia runs an end-to-end cloud-TV service for consumers, with ca. 20,000 active users. The service provides network recording, live-TV, premium channels, VoD and even karaoke. In Finland Booxmedia has also built DNA’s Welho Matka-TV service, which is quickly gaining wide popularity. Booxmedia has also licensed its technology to broadcasters and service providers in other European markets.

“Viewers and content are rapidly moving from traditional broadcasts to the personal internet experience, and international competition in the IPTV industry is fierce. Following the recent approach by industry participants, in Finland we have a positive environment to successfully develop services for international markets” comments Jukka Sintonen, CEO of Booxmedia. Adds Kaj Hagros, Executive Chairman of Booxmedia; “We are convinced that within the next three years, the IPTV and OTT services have taken giant leaps from today. We in Booxmedia are in the forefront of this development”.

”Booxmedia’s scalable and innovative solution is an important part of our multiscreen TV offering. The good uptake and the really positive feedback our customers give on Booxmedia powered DNA Welho Matka TV service showcases well the potential Booxmedia has for international growth.” says Mikko Saarentaus, Director of TV services at DNA.

Booxmedia has grown rapidly: for example its revenue has doubled since 2012 and prospects for 2014 are similar. The firm has approximately 30 employees, including its own development and testing team in Asia. Booxmedia was founded in 2009 and it has headquarters in Helsinki, Finland. Booxmedia is owned by the founders, management, DNA and Alma Media.

Company overview: Booxmedia is an innovation leader in the space of cloud-TV technology solutions for media companies and service providers. Booxmedia enables content owners to distribute and monetize premium content on any screen, such as Tablet, Computer, Smartphone and a Smart-TV in an encrypted, secure format. Company’s customers include consumers, media companies as well as broadband and wireless service providers. Founded in 2009, Booxmedia is on a fast track to internationalization with headquarters in Helsinki, Finland.