Waterloo-based Dejero has raised a $32 million Series B to ramp up its product development.
Dejero’s product — which includes a suite of equipment, software, connectivity services, cloud services, and support — blends multiple internet connections to deliver the connectivity required for cloud computing, online collaboration, and the secure exchange of video and data. Targeted to broadcast and media companies, Dejero provides a more cost-effective alternative to using news trucks and satellites for live news gathering.
The company last raised $10 million earlier this year.
The investment comes from Kayne Partners, the growth private equity arm of Kayne Anderson Capital Advisors LP, and strategic investor Intelsat, which provides integrated satellite communications. Intelsat and Dejero are working on a solution that combines cellular connectivity from multiple mobile network providers with Ku-band IP satellite connectivity.
“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.” As part of this financing round, Leon and Rob Shilton, also of Kayne Partners, will be joining the Dejero board of directors.
Michael DeMarco, Intelsat’s EVP of operations, and Chen and Rob Shilton of Kayne Partners will be joining the Dejero board of directors.
“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,” said Bruce Anderson, CEO of Dejero. “Our existing collaboration with Intelsat is greatly enhanced by this investment, which we value as an endorsement of our skills in innovation and delivery.”
