Online Video Distribution Company SeaWell Networks Raises $7 Million

SeaWell Networks, a fledgling Canadian provider of Internet video delivery products designed for use by content producers and their delivery partners, has secured $7 million in first-round funding led by BDC Venture Capital and joined by Northwater Intellectual Property Fund and Ontario Centres of Excellence.

The round includes the conversion of prior seed funding.

Founded in 2008, SeaWell says it is currently developing a solution, based on video compression standard H.264 scalable video coding (SVC), that not only enables content providers to deliver a TV-like viewing experience online but also reduces the cost of delivering that content to any screen or device in HD quality full-screen resolution or in lower resolutions for low-bandwidth mobile devices.

For more information on SVC, you can request a white paper from SeaWell.

The goal of the solution is to enable organizations to stop “over-provisioning” their existing delivery networks in order to address the quality and scalability challenges created by the increasingly surge in online media traffic.

Nazmin Alani, Managing Director BDC Venture Capital and previously VP, Consulting with Gartner, has joined SeaWell Networks’ board of directors.