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/From Seed round to Exit in 3.5 years: an exhilarating investor journey with Deep Tech portfolio company Streamroot
September 11th, 2019
By Romain Lavault, General Partner at Partech
This was my tweet back in 2015 unveiling the Streamroot seed round which Partech led, together with Techstars Ventures and a number of high profile Angels. Since then, Streamroot hasn’t stopped growing and went from success to success. Paraphrasing CEO Pierre-Louis Théron who once said that “2016 has seen milestone after milestone for Streamroot”, I would say that the last four years saw milestone after milestone for Streamroot!
Let’s go back to see what happened in only 3.5 years.
It all started with a pitch deck
In 2015, Partech’s Seed activity was still in its early days. We had launched Partech Entrepreneur Fund in 2013 — a €30M fund — and in April 2015, we announced the first closing of our second seed fund, Partech Entrepreneur Fund II (eventually oversubscribed at €100 million). The fund aimed at financing seed-stage startups in the U.S. and Europe on the hottest emerging tech topics. One of them was the rise of OTT and how the exponential consumption of online video would stretch existing infrastructure and compression technologies to their limit.
Paris-based Streamroot was just graduating from Techstars Boston summer 2015 and that’s when Pierre-Louis Théron, Nikolay Rodionov and Axel Delmas started fundraising. We had been tracking them for a couple years before, while they were still students and incubating their startup-to-be at Le Camping in Paris.
In their pitch deck (screenshots below), the Founders stroke a nerve (at least for a deep tech investor like us): online video traffic is exploding but current infrastructure just won’t scale, i.e. a massive problem in the making, waiting for a solution.
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Read the whole blogpost here.
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