Wowza Media Systems of Evergreen announced today that it received an undisclosed minority investment from Summit Partners of Palo Alto earlier this month.
Wowza, founded in 2005, is know for server software that facilitates media streaming. It has more than 100,00 licensees around the globe, including radio and TV broadcasters, educational institutions and government agencies.
Wowza co-founders David Subenvoll, CEO, and Charlie Good, chief technology officer, will remain majority owners and control the board of directors.
Greg Goldfarb, a managing director at Summit Partners, has joined the board.
“As a long-time investor in media technology and software companies, Summit Partners is pleased to support this strong team of entrepreneurs that has built a rapidly growing and profitable company poised for significant expansion,” Goldfarb said in a statement.
Summit Partners, which invests in the software, Internet and media sectors, has raised more than $14 billion in capital since its founding in 1984.
