QuickPlay Closes $12M Round

Led by GMP Securities with participation from existing VC partners General Catalyst Partners, JLA Ventures, and Ventures West

July 13, 2009

1 Min Read

TORONTO -- QuickPlay Media Inc., the premier provider of solutions that manage the business of mobile video, today announced the closing of a private placement for US $12 million. The placement was led by GMP Securities L.P. and included participation from existing venture capital partners General Catalyst Partners, JLA Ventures and Ventures West. The new investment will support the continued development of QuickPlay’s OpenVideoTM Platform and associated solutions including PrimeTime2Go.

“We are very pleased to announce this round of funding and we commend GMP for the entrepreneurial approach they’ve taken in leading the deal,” said Wayne Purboo, CEO and founder of QuickPlay Media. “Over the past year we have launched a number of very successful solutions. With this funding, we now have the ability to accelerate development efforts and further capitalize on that momentum.”

All of QuickPlay’s solutions are based on its OpenVideo platform, which connects an ecosystem of more than 150 content providers, 15 major mobile operators and powers audio and video products that reach more than 100 million subscribers. SIRIUS XM Radio’s Mobile application, which is available now on popular Apple devices including the iPhone and iPod Touch, is the latest service powered by QuickPlay. SIRIUS XM Radio follows QuickPlay’s most recently announced solution, the award-winning PrimeTime2Go premium mobile TV service which features content from leading networks including ABC, CBS and NBC. PrimeTime2Go lets consumers set their devices to automatically deliver full episodes of popular TV programs as they become available.

“The mobile entertainment industry continues to experience strong growth, and QuickPlay is well positioned to capitalize on these opportunities,” said Neil Selfe, managing director of GMP Securities L.P. “We are proud to be associated with such an exceptional company.”

QuickPlay Media Inc.

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