LiveU has raised $27 million in a funding round. The round was led by new investor Lightspeed Venture Partners, with participation by existing investors: Canaan Partners, Carmel Ventures and Pitango Venture Capital. To date, LiveU has raised around $50 million.
David Gussarsky, Lightspeed’s managing director, joins LiveU’s board.
Founded at the end of 2006, LiveU offers an end-to-end live video transmission solution. LiveU’s units were used during the US Presidential Campaign and over 300 units were deployed on Election Day itself to transmit live coverage. Around 100 LiveU units were also used to cover the devastation caused by Hurricane Sandy. LiveU’s flagship LU70 product is the industry’s first bonded 3G/4G LTE backpack.
The company recently introduced its laptop and mobile app (iPhone/iPad) solutions using multiple connections and a unified management platform.