TORONTO--(BUSINESS WIRE)--Wellington Financial LP, a privately-held specialty finance firm, today announced it closed a $14 million growth financing for Dejero Labs, Inc., an innovator in cloud-managed solutions that simplify the transport of live video and real-time data across remote or mobile IP networks. The funding will support Dejero’s endeavors in providing broadcasters, media organizations, and mobile production companies with instant, cost-effective, and reliable access to their audiences. The company’s LIVE+ cloud-based platform manages and bonds wired and wireless network connections to deliver broadcast-quality live video from virtually anywhere. In combination with its range of innovative, portable IP newsgathering equipment, Dejero enables reporters to accelerate the pace of news distribution for the digital era.
“Dejero shows incredible entrepreneurial ingenuity, and we are proud to support a Canadian company that has scaled its business to the point of being globally competitive,” said Mark Usher, Partner at Wellington Financial. “Dejero’s technology is indispensable to news teams internationally, and it will only gain further momentum as its capabilities expand beyond news reporting and into the ever-broadening world of live broadcast media and entertainment.”
Dejero counts almost every major network across North America as a customer, including ABC, CBC, CBS, CTV/Bell Media, Fox, NBC and Rogers Media. Notably, with the support of Dejero’s equipment, ABC7 Los Angeles was one of the company’s customers that reported live from U.S. President Donald Trump’s inauguration via the LIVE+ platform. Dejero’s technology also supports many international broadcasters covering major events, such as the Olympics, and enables coverage of breaking news stories within minutes of them occurring.
“We are proud to be a key player bringing reliable connectivity solutions to broadcasters and media organizations as they broadcast and stream an increasing amount of live content from around the world,” said Brian Cram, CEO at Dejero. “As a Canadian-based company, we are thrilled Wellington Financial is supporting our efforts. With this $14 million, we will continue to create better, faster, and more innovative ways for broadcasters to reach their traditional and online audiences in real time.”
Dejero’s proprietary equipment is more cost-effective than microwave or satellite trucks that have traditionally been used for newsgathering, faster to set up, and offers greater flexibility to broadcast live from virtually anywhere. In 2016, the company was ranked 37th on Deloitte’s Technology Fast 50 list, which marks the third consecutive year that Dejero has been awarded this accolade, showcasing its continued growth and technological distinction.
About Wellington Financial, LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture, and amortizing loans up to $40 million. Wellington Financial LP is currently managing a $900 million investment program with offices in Menlo Park, Santa Monica, and Toronto. Wellington Financial LP is managed by a partnership controlled by a fund management Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to the Fund. LPs include several of Canada’s largest institutional investors, crown corporations, financial institutions, and pension funds. Please visit the fund website at www.wellingtonfund.com.