Building B Boasts of New Triple-Play Platform
Startup Raises $17.5 Million in Funding
By Steve Donohue -- Multichannel News, 8/20/2007 6:39:00 AM
Belmont, Calif. -- Boasting that it plans to market a new television and Internet video service that could rival existing pay TV services from cable, satellite and telephone providers, startup firm Building B said it has raised $17.5 million in funding.
The company, which plans to detail its commercial partners this fall, said it expects to begin marketing an HDTV programming platform that will combine programming from existing basic and premium cable networks with video delivered from Internet content providers during the second half of 2008.
All of the content will be delivered through a piece of hardware installed inside of a home. Building B executives wouldn’t detail exactly which broadband technologies the company would rely on, but said the service could integrate content delivered from new technologies such as WiMax and broadband over power line service.
Initial investors include Morganthaler Ventures, Omni Capital, Index Ventures and private investors.
Building B’s board of directors include former NBC News chief and current Sony BMG Music Entertainment chairman Andy Lack and Omni Capital managing director Arun Netravali. Its management team includes former CBS, NBC and Viacom executives.
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