Atlanta-based Streaming Global raised an $8 million seed round from local, individual investors.
The software startup helps media companies improve speeds, costs and reliability at scale of live and on-demand streaming services, CEO Richard Oesterreicher said.
Inside the deal: This seed round is setting the foundation for Streaming Global to go into growth mode, Oesterreicher said. He declined to name the investors, none of which are venture capital firms, but said most of them are in the Atlanta technology ecosystem. The round adds to the startup’s family and friend round of $2.5 million, which was raised at its launch.
About the company: Oesterreicher started his career building and scaling technology companies in the 1990s and led development for Microsoft’s digital media group. By 2016, he realized streaming technology hadn’t changed much, despite people streaming more high-definition videos rather than static images or text. Oesterreicher founded Streaming Global to update that technology, which he says could make live streaming 45-100 times faster than its original speeds while remaining cost effective for clients. The startup has 13 employees and offices in Alpharetta and Atlanta, Oesterreicher said. Streaming Global works with media companies, streaming services, mobile providers and government agencies.
What’s next: The seed round will help scale the company and improve in-house technology, Oesterreicher said. As 5G wireless connectivity rolls out in the next decade, which should also boost streaming speeds and reliability, Oesterreicher says Streaming Global will add to those efficiencies.
Why it matters: Streaming Global’s software could improve profitability for streaming services and better the streaming experience for consumers. Oesterreicher called the startup an extension of Georgia’s booming film and media industry. The seed round was oversubscribed by $2 million, showing the support Atlanta investors have for the startup.
What they’re saying: “I wake up every day driven by innovation,” Oesterreicher said. “I love to find new ways to apply pieces of technology or create new technology to improve business and the human experience, and it seems I’ve always been pulled back to the media space to do that.”
