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Sherpa Digital Media Lands Financing Round

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Sherpa Digital Media Lands Financing Round
    

By: -
7 Aug 2017
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Enterprise streaming platform developer Sherpa Digital Media today said it has raised $5.5 million from a pair of Silicon Valley investment firms.

The Redwood City, Calif-based Sherpa said the new investment from Benhamou Global Ventures and Rally Ventures brings the total raised by the company since its inception to almost $8 million. With previous investments coming primarily from private angel investors, Sherpa considers this new round to be its “Series A” financing. Following this investment round, both Benhamou and Rally Ventures will have seats on Sherpa’s board of directors.

Sherpa has a somewhat lengthy history despite its status as a Series A start-up. The company was founded in July 2011 by Accordent veterans K.C. Watson and Mark Strathdee as a provider of consulting services designed to help companies implement streaming video. The company has forged relationships with a handful of large blue-chip clients, such as Apple and Disney.

During the past several years, the company has worked to “productize” some of its custom project work into solutions that can be sold to a broader range of companies. Sherpa now produces an enterprise streaming platform offering available in on-premises, hosted and hybrid versions. The company enhanced its product development efforts in April 2017 when it acquired the VideoVerge streaming platform solution from Ramp.

Four-fifths of Sherpa’s revenue now comes from the sale of streaming platform offerings, said Watson, who is Sherpa’s Chief Executive Officer.  

With the new round of financing, the 22-employee Sherpa plans to continue its product development work while enhancing sales and marketing efforts. Sherpa management indicates that particular emphasis will be placed on developing reseller relationships to enhance Sherpa’s existing direct sales efforts.

Key focus areas in Sherpa’s product development will include continued efforts to integrate  integrating enterprise streaming content with artificial intelligence solutions. Sherpa, which has developed about 100 applications programming interfaces for its streaming platform, also will emphasize the development of additional APIs to foster easier integration of the Sherpa platform with other communications solutions, Watson said.

In my eyes, the Sherpa investment is a sign of the growing health of the overall market for enterprise streaming solutions.

Certainly, some industry watchers may blare the trumpets a bit louder for larger investments garnered in the past year-and-a-half by more established vendors, such as ON24, Kaltura and Panopto. Fresh financing for emerging streaming plays like Sherpa, however, indicates that entrepreneurs and investors alike still see an open window for innovation and the opportunity to create value by building a better streaming mousetrap. Such efforts bring more energy to the market, prompting all vendors to sharpen their product offerings – an outcome that can only lead to better tools for organizations interested in implementing streaming solutions.

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