ActionStreamer Raises Series A Funding To Accelerate Platform Development

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Feb 06, 2024, 09:00 ET

CINCINNATI, Feb. 6, 2024 /PRNewswire/ -- ActionStreamer, the market-leading media streaming platform for IoT devices announced today the close of its $2.4M Series A funding round, led by JumpStart Ventures through the Advanced Manufacturing Fund, managed with support from MAGNET. The Castellini Management Company, owners of the Cincinnati Reds, also co-invested in the round.

With the successful completion of Series A financing, ActionStreamer is poised to strategically deploy capital to accelerate the development of its patented comprehensive technology platform. The platform encompasses a robust API and SDK offering, reference hardware and applications, coupled with advanced cloud services. The platform enhancements will further advance ActionStreamer's mission to unlock pioneering data streaming capabilities and media solutions that serve diverse enterprise markets, including the sports and entertainment, aerospace, and industrial sectors, as well as remote surveillance and monitoring.

"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," said CEO, Bob Lento. "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's first market application was wearable point-of-view cameras and streaming solutions that have been showcased in NFL, MLB, USFL, SailGP, and RedBull events. In 2020, ActionStreamer was awarded a contract from the U.S. Air Force to develop an advanced communications system with real-time point-of-view video and two-way audio capabilities for use in confined spaces and hazardous areas. Most recently, ActionStreamer pioneered new 5G capabilities in collaboration with T-Mobile, and delivered the first Amazon Web Services-qualified 5G cameras on the Amazon Partner Network (APN).

"We are thrilled to partner with ActionStreamer to provide capital and support that will help realize the potential of this truly unique platform technology," said Jerry Frantz, President of JumpStart Ventures. "The impact in sports, entertainment, defense 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."

About ActionStreamer
ActionStreamer is a proprietary technology and software platform for streaming media from wearable, IoT, and other connected devices. Founded in 2016, the end-to-end streaming platform has been widely recognized for delivering breakthrough data movement solutions and real-time omnichannel media offerings across the sports, entertainment, telecommunications, industrial, and defense markets, and a customer portfolio that includes the U.S. Air Force, FOX Sports, Amazon Web Services, and T-Mobile.

About JumpStart Ventures

JumpStart Ventures is a division of JumpStart Inc. investing in Seed and Series A-stage technology startups throughout Ohio and beyond. With four investment funds under management, the organization provides a capital continuum to startup founders as they move through critical growth phases. Financial returns generated by JumpStart Ventures help strengthen the competitiveness of Ohio's VC ecosystem, increasing capital access and resource connections for early-stage companies. As one of Ohio's most active seed-stage investors, the organization's investment activities have generated 2.5X+ returns-to-date via nationally recognized exits. To learn more, visit JumpStart. VC.

SOURCE ActionStreamer