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Drake Star Partners advises Cleeng on its growth financing from Walvis Participaties

Cleeng, a video eCommerce provider, has completed its growth financing from Walvis Participaties and existing shareholders, which will be used to accelerate the company’s international growth.

This latest funding round will give the investors a minority stake in the company. Drake Star Partners acted as the exclusive financial advisor to Cleeng on this transaction.
 
Founded in 2011, Cleeng is the leading company for selling premium videos direct-to-consumer. Its fully managed Live PPV and SVOD solutions take care of all the steps from Identity and Access Management, e-commerce, and end-user support to security. The Company’s highly scalable platform has been used by leading brands in sports, entertainment, education and houses of worship, such as, Sinclair Broadcasting, FranceTV, FIFA, NHRA, GSN, Golden Boy Promotions and One Championship.
 
“We are very pleased to have a renowned investor such as Walvis join our shareholding and support our growth at a time when the OTT industry is growing rapidly, as more and more brands and organisations are planning to monetise their video content through online solutions,” says Gilles Domartini, Founder & CEO of Cleeng. He continued: “Drake Star Partners’ expertise in fundraising processes with fast-growing tech companies was of great help to successfully close this transaction.”
 
With this fundraising, the Company is ready to fulfil its global objective to empower content owners, broadcasters and publishers to securely distribute and monetise their direct-to-consumer content around the world.
 
“It was a pleasure working with Gilles Domartini (Founder & CEO, Cleeng) and his team to achieve this successful fundraising and prepare the company to reach its long-term goals. They have built a unique platform with global clients and are well-positioned to become a dominant player in the OTT industry with the support of Walvis as their partner,” commented Frank Verbeek, Managing Partner at Drake Star. “This transaction confirms the consolidation trend occurring in the OTT market, a trend we expect to continue in the coming months.”

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