TVU Networks Secures Significant New Round of Investment Funding

  TVU Networks Secures Significant New Round of Investment Funding

 New Round of Financing from SoftBank Ventures Korea, Altos Ventures, and New
   Atlantic Ventures Will Drive Innovation in IP-Based Video, Expand Global
                               Market Presence

Business Wire

MOUNTAIN VIEW, Calif. -- February 20, 2013

TVU Networks, the global technology leader in mobile live broadcast solutions,
announced today that the company has secured a new round of investment
funding. SoftBank Ventures Korea (SBVK) has joined TVU’s initial investors
Altos Ventures and New Atlantic Ventures in providing a new round of funding
that will enable TVU to accelerate its industry-leading innovation in IP-based
video transmission, management and distribution solutions; further its market
leadership in North America, Asia, the Middle East and Africa; and expand its
global market presence in Europe and Latin America.

“SBVK is always looking to partner with innovative technology companies with
demonstrated global reach, solid market momentum in its products, and strong
underlying financials. TVU Networks perfectly fits this profile and is an
ideal addition to the SBVK portfolio. Specifically, TVU’s innovations in
mobile video solutions have made a significant impact on how news is covered
by major news organizations and TV stations throughout the world,” said Greg
Moon, CEO and president, SBVK. “TVU has demonstrated the ability to achieve
its technology leadership position with only a minimal amount of capital due
to its in-depth understanding of the broadcast industry and expertise in video
compression, Internet, and wireless communication technology. We look forward
to partnering with TVU to drive the company’s continued technological
innovation and global growth.”

“SoftBank is a recognized technology leader in global telecommunications
infrastructure, which is a key element in our solutions. Our partnership with
SBVK will not only provide financial assets, but will also include access to a
deep network of global telecommunications expertise and partnerships. We are
thrilled to partner with SBVK to continue to advance TVU’s rapid growth and
success, and look forward to a strong continued relationship with Altos
Ventures and New Atlantic Ventures,” said Paul Shen, CEO, TVU Networks. “TVU
has led the movement to IP-based video in the broadcast industry. We are
committed to delivering further innovation for the broadcast industry and to
bring our video solutions to industries beyond broadcast such as law
enforcement agencies around the globe.”

Over the past three years, TVU Networks has been a field-tested leader in the
evolution of mobile newsgathering tools. The company introduced the world’s
first HD newsgathering backpack, the TVUPack TM8100, in early 2010. The next
year, TVU introduced TVU Anywhere, the world’s first fully-integrated
newsgathering app for mobile devices. TVU has been at the forefront of
developing smaller, ultra-lightweight 3G/4G mobile uplink solutions with the
introduction of the TVUPack Mini and the TVUPack Mini SE. The company most
recently introduced TVUPack TM8200, the world’s first modular cellular uplink
solution, and the smallest, lightest and most powerful uplink backpack
available on the market.

Already in use by hundreds of leading broadcast organizations around the
world, the TVUPack family of products gives broadcasters satellite and
microwave TV truck functionality in a lightweight, portable and untethered
form. TVUPack is the original one-button-operation newsgathering backpack, is
simple to use, and provides broadcasters with a low-latency signal that
enables them to broadcast live at any time and from any location. The TVUPack
family of products has been used to deliver professional-quality live HD
footage of a number of important events on every continent including the
London Olympics, U.S. presidential election primaries, the World Cup,
Hurricane Sandy, the World Series, and the Super Bowl.

For more information about TVUPack and other TVU Networks broadcast solutions,
please visit www.tvupack.com.

About TVU Networks:

TVU Networks provides broadcast organizations around the globe with innovative
wireless electronic newsgathering (ENG) and Internet broadcasting solutions.
Since its founding in 2005, TVU has provided solutions that enable any size
broadcaster to overcome the limitations of traditional broadcasting
infrastructure, expand distribution to a wider audience and capture and
broadcast live video content in a cost effective way. TVU Networks is
privately held and is headquartered in Mountain View, Calif. with offices in
New York, Boston, Raleigh, North Carolina and Shanghai, China. More
information about TVU Networks can be found at www.tvupack.com.

About SoftBank Ventures Korea:

Established in 2000, SoftBank Ventures Korea has formed more than 10 funds and
has invested approximately 290 billion KRW, equivalent, across 130 startup
companies (2012 2H). SBVK is a venture capital subsidiary of SOFTBANK Group,
one of the largest technology and telecommunications corporations in the
world, focused on mobile communications, broadband infrastructure, fixed-line
telecommunications, and internet culture. SBVK is committed to investing in
and supporting companies and entrepreneurs with disruptive technologies and
innovative ideas to change the world.

Contact:

TVU Networks
Dan Sorensen, 650-228-4842
dsorensen@tvunetworks.com
 
Press spacebar to pause and continue. Press esc to stop.