Applicaster secures $11MN funding | Media Investment | Business
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OTT video applications creation, delivery and management firm Applicaster has won a new round of funding to accelerate technology and global customer growth amid what it calls record demand for its streaming content services.
Applicaster investment image 17July2020
The $11 million funding round was led by Viola Growth, which invests in technology companies at their expansion stage, with participation from 83 North, Pitango, Saban Ventures, Planven Investments and La Maison. The round of financing brings Applicaster’s total raised to about $67 million. In March 2019 the groups invested $20 million in the company after it recorded 100% growth in annual recurring revenue.

Applicaster’s SaaS app management platform, Zapp, simplifies the way media companies build, manage and distribute content, reducing costs and significantly shrinking time to market. The company recently launched its latest framework, called Quick Brick, which is designed to streamline the design, deployment and management of complex video apps across Android, iOS, Apple TV (tvOS), Android TV, Amazon Fire TV, and Samsung and LG TVs. In October 2019, India-based global over-the-top service ZEE5  revealed that it was to deploy Applicaster technology to transform the way it delivers content to mobile audiences.

“There has been a fundamental shift in consumer viewing habits that is creating a fundamental shift for media companies. Mobile and connected TV apps have never been a bigger part of their business model than now,” said Applicaster Co-founder and CEO Jonathan Laor commenting on the investment.

Applicaster has always remained several steps ahead of industry growth and technological change. We’re excited to continue working with content providers to ultimately ensure viewers are engaged and receptive. Applicaster’s speed and flexibility in reaching these audiences are key in adapting strategies to support this burgeoning market.”

“There has been a sea change in how we consume media, and in th-e past few months companies have looked to adapt direct-to-consumer app strategies to support this competitive OTT market,” said Eran Westman, partner at Viola Growth, who is also on Applicaster’s board. “Applicaster is uniquely positioned to meet this historic demand by providing agile and flexible solutions for its clients. We believe the category will continue to grow as will Applicaster, with its flexible and robust platform.”