GBP2.2m Funding Round Completed to Expand Filmnight and Saffron Digital

GBP2.2m Funding Round Completed to Expand Filmnight and Saffron Digital

LONDON, July 23/PRNewswire/ -- Harmony Media Group, the newly formed parent company of Filmnight Digital and Saffron Digital has secured GBP2.2m in a funding round designed to further develop the digital propositions of both operating companies. The funding comes from equity investment company Beringea Capital, along with an additional investment from existing investors NewSmith Capital and Duet Asset Management.

Filmnight Digital is a leading provider of digital film publishing solutions with a growing client list including Vodafone, T-Mobile, Trinity Mirror and EMAP. Over the last four years Filmnight Digital has forged commercial relationships with international film studios to provide its clients with a 'one-stop-shop' for film related content and services. Their sites attract over 1 million unique visitors per month.

Saffron Digital has developed a converged content delivery platform that enables content owners, brand owners and mobile operators to deliver a rich experience for their consumers across mobile and web. This state-of-the art platform includes market-leading services, such as a video on demand solution allowing consumers to access their digital files across mobile and online. Current Saffron Digital clients include Disney Mobile, IPC Media, Zone Media, T-Mobile, O2 and Vodafone.

Harmony Media Group (HMG) has also strengthened its management structure to drive the company's growth with the appointment of former advertising executive Eric McClean as its new Chairman. Shashi Fernando moves up to the position of CEO of Harmony Media Group, and David McDonald is appointed as Managing Director across both Filmnight Digital and Saffron Digital.

Shashi Fernando, CEO of HMG commented, "This round of funding will allow Harmony Media Group to accelerate our plans for delivering innovative technical solutions, keeping us and our clients at the forefront of content and service delivery in the digital marketplace. We believe that this commitment will strengthen our existing relationships with market leading businesses and help forge new relationships in the future."

Source: Harmony Media

For enquiries dealing with the digital businesses of HMG, contact Shashi Fernando at shashi.fernando@filmnight.com or call +44-(0)207-404-6333 and ask for the Press Office.

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Profile: International Entertainment