ActionStreamer, a streaming platform for IoT devices, has announced the completion of its $2.4 million Series A funding round, with JumpStart Ventures leading the investment through the Advanced Manufacturing Fund, in collaboration with MAGNET. The Castellini Management Company, which owns the Cincinnati Reds, also participated as co-investors in this round.
This latest round of financing enables ActionStreamer to strategically allocate capital towards the enhancement of its patented technology platform, which includes an extensive suite of APIs and SDKs, reference hardware and applications, and advanced cloud services. These developments are aimed at bolstering ActionStreamer’s commitment to delivering innovative data streaming and media solutions across a broad range of enterprise markets, such as sports and entertainment, aerospace, and industrial sectors, alongside remote surveillance and monitoring.
Bob Lento, CEO of ActionStreamer, expressed his enthusiasm about the investment and the future growth of the company: “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. 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.”
Founded in 2016 by former NFL Linebacker Dhani Jones and Cincinnati technology entrepreneur Chris McLennan, ActionStreamer first made its mark with wearable point-of-view cameras and streaming solutions showcased in high-profile events across NFL, MLB, USFL, SailGP, and RedBull. In 2020, the company was awarded a contract by the U.S. Air Force for the development of an advanced communications system featuring real-time video and two-way audio for use in confined and hazardous environments. Recently, ActionStreamer has led advancements in 5G technology in collaboration with T-Mobile and launched the first 5G cameras certified by Amazon Web Services on the Amazon Partner Network (APN).
Jerry Frantz, President of JumpStart Ventures, also shared his excitement about supporting ActionStreamer: “We are thrilled to partner with ActionStreamer to provide capital and support that will help realise the potential of this truly unique platform technology. The impact in sports, entertainment, defence, and telecommunications as well as the ability to provide solutions in remote or challenging environments, illustrates the vast market potential of ActionStreamer’s cutting-edge data movement technology.”
There’s plenty of other editorial on our sister site, Electronic Specifier! Or you can always join in the conversation by commenting below or visiting our LinkedIn page.