Enterprise Investors, through their Enterprise Venture Fund I (EVF I), have invested EUR 5.5 mln in BLStream, a mobile software technology company. The funding will put 35 percent of the company’s stake in the hands of Enterprise Investors, and will be used to expand the company through acquisitions, as well as to develop their software offerings.
BLStream (www.blstream.com)
BLStream was founded in 1999 and is based out of Finland, although the initial development work was all carried out by Polish veterans from the IT sector. The company’s primary product offerings are gaming consoles and gaming content for mobile platforms (smartphones and tablet PCs). The company also offers its customers the option to connect to their servers remotely, and connects online services with established and emerging mobile technologies. Showing phenomenal growth, BLStream posted a 50 percent revenue growth in 2011, or EUR 10.5 mln; they are also the long-term software development vendors for brands like Nokia, Intel, Play and the BBC, as well as top gaming brands in the market. The company currently employs 250 IT specialists spread across Scandinavia, Central Europe and Silicon Valley. With over 100 million mobile devices using their media and gaming apps, the company is well on the path to fast growth in the next few years.
03/05/2012
Central & Eastern Europe, Finland, Investment, Private Equity News, Software & Information Technology