SintecMedia receives $7M in funding from Sequoia Capital

SintecMedia, a leading international developer of software for scheduling, sales, traffic, and billing systems, has completed a $10M round of private equity funding from Sequoia Capital and from its current investors.
SintecMedia designs and delivers next-generation systems that allow broadcasters, as well as cable and satellite networks and channels, to manage their schedules and to increase their revenues and reduce costs.
"This investment will be used to support the company's rapid growth in key global markets, accelerate our product development efforts, and to support the management of new forms of media and advertising," said Amotz Yarden, SintecMedia's CEO. "Our OnAir operations-management solution has emerged as the state-of-the-art system in our markets and is installed in leading single- and multichannel broadcast operations in North America, Europe, and Asian markets. This funding will enable us to pursue additional markets and technology development opportunities."
"We are very pleased to support SintecMedia in its efforts to expand globally," said Benny Hanigal, Sequoia Capital partner. "In assessing the market needs within the broadcasting and cable industry sectors, we identified that there is a significant need for next-generation technology that will allow users to move beyond their traditional revenue-generation business models, and SintecMedia appears to be uniquely positioned with solid products, new technology, and quality management to deliver on this."
(GB)