A Cincinnati-area startup co-founded by former Cincinnati Bengals player Dhani Jones has closed a $2.4 million Series A funding round led by Cleveland’s JumpStart Ventures.
Norwood, Ohio-based ActionStreamer is a streaming platform used by the sports, entertainment, defense and telecommunications industries.
The new funding comes via JumpStart's Advanced Manufacturing Fund, which is dedicated to funding early-stage advanced manufacturing startups in Ohio and is supported by MAGNET, the Manufacturing Advocacy and Growth Network, a nonprofit.
The Castellini Management Co., owner of the Cincinnati Reds, co-invested in the round.
ActionStreamer plans to use the capital to enhance its technology platform. The improvements will boost its data-streaming capabilities and media products, the company said.
"We are thrilled to welcome JumpStart Ventures as our lead investor, as their support represents a substantial investment and provides us with invaluable experience and guidance as ActionStreamer scales," ActionStreamer CEO Bob Lento said in a statement. "This raise will drive the evolution of our software and cloud service products for the enterprise marketplace, empowering thousands of customers to stream data with the click of a button at any time, from anywhere in the world."
ActionStreamer was founded in 2015 by Jones and Cincinnati tech entrepreneur Chris McLennan, who founded cloud replication and data delivery company Ilesfay Technology Group LLC.
The company works with manufacturers and testing agencies to integrate miniature streaming components into wearables and other devices.
Its first market application included wearable point-of-view cameras and streaming services, showcased in the NFL, MLB, USFL and more. Its HelmetCam, which streams live video directly from the player’s point of view, has been used by baseball hitters, hockey goalies and football players alike.
In 2020, ActionStreamer was awarded a contract from the U.S. Air Force to develop an advanced communications system with real-time point-of-view video and two-way audio capabilities for use in confined spaces and hazardous areas.
Most recently, ActionStreamer developed new 5G capabilities in collaboration with T-Mobile, and the startup delivered the first Amazon Web Services-qualified 5G cameras on the Amazon Partner Network (APN), a global network for companies and individuals to build, market and sell their solutions on AWS.
ActionStreamer is now a team of nine. The Series A round brings the company’s total venture funding to $4.3 million. It hasn’t raised since 2018, when CincyTech led its $1.9 million seed round.
"We are thrilled to partner with ActionStreamer to provide capital and support that will help realize the potential of this truly unique platform technology," Jerry Frantz, president of JumpStart Ventures, said in ActionStreamer's statement. "The impact in sports, entertainment, defense and telecommunications as well as the ability to provide solutions in remote or challenging environments illustrates (its) vast market potential."
