Dejero has received $32 million in new financing.
The Waterloo-based connective technology provider saw the new injection of capital come from Kayne Partners, which is the private equity arm of Kayne Anderson Capital Advisors, as well as Intelsat, a provider of integrated satellite communications and a partner on Dejero’s CellSat solution. CellSat combines cellular connectivity from multiple networks with Ku-band IP satellite connectivity.
Beyond CellSat, Dejero itself provides reliable connectivity solutions by blending satellite, cellular and other IP connections to deliver and exchange high throughput low latency data and video. Many large news organizations around the world use Dejero’s technology to report live as well as provide internet connectivity in remote locations.
“We are impressed with Dejero’s rapid growth and worldwide success, which are clearly driven by its unique network blending technology that solves connectivity challenges in portable, in-vehicle and fixed location scenarios,” said Leon Chen, managing director at Kayne Partners. “This investment will allow Dejero to bring its innovative thinking more quickly to market and further extend its position as market leader.”
With the new financing, Dejero will be welcoming three new members to their board of directors. Chen, as well as another Kayne Partners representative Rob Shilton, will join. Intelsat’s executive VP of operations Michael DeMarco will also become part of the board.
Demarco explained following the two company’s recent collaboration, Intelsat decided to make a strategic investment that would accelerate more work on multi-network solutions between the two.
“Simple, fast, cost-effective and highly reliable connectivity is vital in today’s interconnected world, and is becoming ever more so through natural progressions such as connected vehicles and the internet of things,” said Bruce Anderson, CEO of Dejero. “With this funding we see huge opportunities to deliver a broader range of blended connectivity solutions and services, not only to our traditional market of broadcast and media, but to other markets where reliable, flexible connectivity is just as vital.”
It’s clear the new funding will help create methods of working together between Dejero and Intelsat, but the money will also be tapped to enter verticals beyond media. Right now, Dejero counts almost every major network across North America as a customer, including ABC, CBS, Fox, NBC, CBC and Rogers Media.
Earlier this year Dejero picked up $14 million in financing from Wellington Financial.