IMPROVED advises Cleeng on its Growth Financing from Walvis Participaties
- Date June 26th, 2018
- Transaction type Growth Financing
- Sector Technology
- Sub Sector Saas (OTT Media)
Cleeng, the leading video eCommerce provider, completed its growth financing from Walvis Participaties and existing shareholders, which will enable the company to accelerate its international growth. This latest funding round will give the investors a minority stake in the company. IMPROVED acted as the exclusive financial advisor to Cleeng on this transaction.
Founded in 2011, Cleeng is the leading company for selling premium videos direct-to-consumer. Its fully managed Live PPV and SVOD solutions take care of all the steps from Identity and Access Management, e-commerce, and end-user support to security. The Company’s highly scalable platform has been used by leading brands in sports, entertainment, education and houses of worship, such as, Sinclair Broadcasting, FranceTV, FIFA, NHRA, GSN, Golden Boy Promotions and One Championship.
“We are very pleased to have a renowned investor such as Walvis join our shareholding and
support our growth at a time when the OTT industry is growing rapidly, as more and more brands and organisations are planning to monetise their video content through online solutions ... IMPROVED's expertise in fundraising processes with fast-growing tech companies was of great help to successfully close this transaction.”
Founder & CEO, Cleeng
“It was a pleasure working with Gilles Domartini (Founder & CEO, Cleeng) and his team to achieve this successful fundraising and prepare the company to reach its long-term goals. They have built a unique platform with global clients and are well-positioned to become a dominant player in the OTT industry with the support of Walvis as their partner ... This transaction confirms the consolidation trend occurring in the OTT market, a trend we expect to continue in the coming months.”
Managing Partner, IMPROVED