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Friday November 28, 2014

NJ’s LiveU Raises $27M

PAX Prime 2012

PAX Prime 2012 (Photo credit: Chase N.)

LiveU, based in Hackensack, NJ, recently raised $27 million in funding. The company’s 4G LTE-equipped LU70 backpack has become the go-to for companies looking to uplink HD video while in the field. The funding round included Lightspeed Venture Partners, Canaan Partners, Carmel Ventures and Pitango Venture Capital.

LiveU’s technology has been used by big broadcasters such as BBC News and NBC. Samuel Wasserman, CEO of LiveU explained that the funding will be vital as the company moves further towards being more of end-to-end solution for broadcasters.

[Editor’s Note: LiveU is a client of Trylon SMR, owned by Trylon Communications, Inc., the parent company of NY Convergence]

Venture Beat