IPTV Vendor Entone Raises $14.5 Million
Investors Include Coral Capital Management, Menlo Venture, Scale Ventures
By Todd Spangler -- Multichannel News, 7/31/2008 9:40:00 PM MT
Entone, which sells IPTV gateways to telecommunications providers, has raised a second round of $14.5 million in venture-capital funding.
The round, which brings Entone to about $24 million raised to date, was led by Coral Capital Management and includes existing investors Menlo Ventures and Scale Venture Partners.
The company said the funding will be used to support its “expanding product portfolio in support of global telecom operators providing IPTV and broadband TV services.”
“This is to give us tailwinds for our expansion plans,” Entone CEO Steve McKay said.
With the funding, Coral Capital director Chris Smith will join Entone’s board.
“With over 25 telecom operators choosing the Entone video gateway solution, Entone has emerged as a clear market leader,” Smith said, in a statement. “We are especially excited about the Entone product roadmap of media hub solutions developed to enable service operators to offer a new generation of television services that seamlessly blend broadcast television, time-shifted viewing, place-shifted viewing, web-based services, and personal media.”
Etone’s Hydra IP Video Gateway provides up to three video streams in any combination of standard- and high-definition MPEG-2 or MPEG-4. Its forthcoming media hub products will integrate services such as Web-based video, personal content such as photo libraries, and enhanced viewing capabilities such as whole-home DVR and place shifting.
Funded in 1999, Entone is based in San Mateo, Calif., and has offices in Hong Kong. The 80-person company competes primarily Motorola in the United States.
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