Signiant has received what it describes as a “majority growth investment” from Battery Ventures, a global, technology-focused investment firm. Terms of the investment have not been disclosed.
The company said it intends to use the investment to fund product development and go-to-market activities, as well as potential future acquisitions in the media technology space. Signiant added it remains committed to pursuing future acquisitions “to better serve its customers”.
“We are thrilled to partner with Battery, a firm with a long history of scaling enterprise SaaS businesses, to begin writing the next chapter of the Signiant story,” said Signiant chief executive Margaret Craig.
“Both the company and the media industry are at inflection points. We feel our solutions are uniquely suited to meet the current moment in media and entertainment, which demands the type of efficiency and fast time-to-value that only a modern multi-tenant SaaS platform can deliver.”
Dave Tabors, a partner at Battery Ventures, added: “As the production of media content becomes more specialised and complex, owing to advancements in video and sound quality, and fancy visual effects, it means media files have gotten larger and more difficult to move around and track.
“In our view, Signiant has cracked the code on how to tackle this problem, building a robust SaaS business to facilitate the transfer of these files in a secure way. And we see the opportunity to grow the company’s market even more.”
