VOD Startup Verivue Pulls In $20 Million Round
Investors Include Comcast, Arris, Sigma Partners and Other VC Firms
Todd Spangler -- Multichannel News, 9/10/2009 12:39:07 PM
Verivue, a video-on-demand startup whose backers include Comcast and Arris, has raised an additional $20 million in funding from existing investors and a new one, venture-capital firm Sigma Partners.
The Westford, Mass.-based company issued equity in the amount of $20,125,208, according to a Sept. 8 filing with the Securities and Exchange Commission. That would bring the VOD startup's total funding to about $85 million to date.
Joining the latest round was Sigma Partners, a VC firm with offices in Boston and Silicon Valley, according to a Verivue spokesman In addition to Comcast and Arris, previous investors in the company include Matrix Partners, Spark Capital, North Bridge Partners and Accel Partners. In its filing with the SEC, Verivue indicated it has 11 total investors.
Verivue's latest round of funding was reported Wednesday by Mass High Tech.
Verivue has developed a network-oriented VOD system designed to stream large numbers of concurrent video streams -- more than 50,000 per server -- across multiple platforms. Arris has a reseller agreement for Verivue's Media Distribution Switch (MDX) systems.
Separately, this week Verivue announced a partnership with eventIS, a Dutch developer of VOD and linear broadcasting software, to develop a solution that will combine the eventIS back-office software with the Verivue MDX 9000.
SeaChange International, meanwhile, announced Sept. 1 it had acquired eventIS in a deal worth at least $36.6 million.
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