Synacor Secures $17 Million in Series C Funding

Synacor, a leader in the development and integration of value-added online content and technology solutions for broadband and Internet service providers, recently announced the closure of a $17 Million in Series C round of financing. Synacor will utilize the investment to expand its portfolio of value-added online content offerings and advanced portal solutions and better enable service providers in the United States and internationally to seamlessly extend their brand experience online while increasing revenue opportunities.

This Series C round of funding was led by North Atlantic Capital and included financing from Mitsui Technology Investment Group, both new investors in Synacor. Several existing Synacor investors also participated in the round, including Crystal Ventures, Advantage Capital Partners, Walden International, Intel Capital and Rand Capital SBIC. The investment reinforces Synacor’s growing leadership position in the delivery of premium online content and technology solutions that enable service providers to extend ownership of their customers through the Internet to create a highly personalized experience.

“We expect this financing to help us accelerate our delivery of exciting new products and our growth globally,” said Ron Frankel, CEO of Synacor. “We deeply appreciate the ongoing support of our investors.”

“North Atlantic has been following Synacor’s progress for more than a year, and could not be more excited to invest in this fast growing, industry-leading solutions company,” said Mark Morrissette, managing director at North Atlantic Capital. “It is a great fit with North Atlantic’s overall investment strategy, and we are thrilled to join this outstanding team.”

Synacor remains committed to preserving the value of service providers’ overall entertainment experience offerings by enhancing online content services that complement consumer experiences on other screens. Synacor’s customizable and comprehensive online portal and extensive alliances with key content providers delivers the commonality and structure between consumers’ experiences online that drive consumer adoption of value-added online services.

“We are pleased to add Synacor as one of our newest investments in our growing Venture and Buyout portfolio. We have been searching for leading premium content aggregation platforms for our existing media assets for quite some time,” said Bert Navarrete, director at Mitsui & Co. Technology Investment Group. “It became immediately clear that Synacor’s market leadership, with its strong and loyal customer base and premiere content partnerships, positions us well to execute on critical components of our Japanese media strategy. We look forward to expanding Synacor’s market leadership globally as we continue to provide market-entry strategy of the company to Europe and Asia.”