Penthera Partners, a company that specializes in software that manages the secure downloading of TV shows, movies and other large digital files to mobile devices, said it as received a $6 million investment from Liberty Global Ventures, the venture capital investment arm of cable legend John Malone’s international cable giant Liberty Global.
"I am truly excited that Liberty Global will be helping us grow Penthera and realize the full potential of our technology,” Penthera CEO Michael Willner said in a statement. “Proceeds from this financing will be used to expand our worldwide sales efforts and accelerate the development of new products and enhancements to our existing products."
Penthera develops software that allows customers to watch content when they don’t have access to a suitable internet connection. Its products have been used by several content providers servicing millions of users, including Showtime, Starz, Comcast, and Charter Communications.
"After vetting available technologies we were impressed with the feature sets included in Penthera's SDK,” Liberty Global chief technology officer (Europe) Dan Hennessy said in a statement. “Whether it's for viewing video when connectivity is limited, intermittent or expensive, downloading is a feature we know customers want and will value greatly, which is why we decided to invest in the company."