Bitmovin receives €20 million financing from EIB to strengthen global stake of its video technology

Bitmovin, the Austrian multimedia company that’s now headquartered in San Francisco, will receive up to €20 million in financing from the European Investment Bank (EIB). Its global pool of customers include the BBC, fuboTV, Hulu Japan, RTL and iFlix. Since founding Bitmovin it was our vision to shape the future of video and provide the best streaming experiences for our customers and viewers. Our founding team started by contributing research and development to modern video standards, and now we’re excited to accelerate that effort with this investment.” EIB Vice-President Andrew McDowell, who is responsible for operations in Austria at the Bank, said: “Bitmovin has developed an intelligent approach to delivering an optimised video experience and solving bandwidth issues, utilising a software-driven solution uncoupled from hardware. Supporting investment that is geared towards innovation, skills and greater competitiveness is part of our mission to foster sustainable growth and jobs in Europe.