Light Reading

Verivue's Coffers Swell by $20M

Jeff Baumgartner
LR Cable News Analysis
Jeff Baumgartner

Verivue Inc. says it really doesn't need more cash, but Jim Dolce's new startup will gladly take it when investors insist on throwing a few million more on the pile.

Verivue, a company that's developed a new line of Flash-based video switches, confirmed it has raised $20 million in a third round of funding, led by a mix of new investors and existing stakeholders from the company's previous fund-raising efforts.

The company isn't saying who joined the latest round, but Comcast Interactive Capital , Matrix Partners , North Bridge Venture Partners , Accel Partners , and Arris Group Inc. (Nasdaq: ARRS) participated in Verivue's second round, which brought in $40 million. (See Verivue Surfaces With Comcast Backing .)

UPDATE: A Verivue official confirmed that Sigma Partners Menlo Park joined the latest round as a new investor. The latest infusion extends Verivue's raised funds past the $85 million mark. A company spokesman said management hadn't been seeking additional funds, but the third round group approached the vendor about the idea. The parties agreed to the same terms and conditions set down for the Series B round, which took place last year before the markets went haywire.

Including the new investment, Verivue has about $50 million in the bank, meaning it has burned through about $35 million since its inception in November 2006. The company has yet to announce any deals for its MDX 9000 Series Media Distribution Switch family, but it's "in several early stages of deployments with customers," a spokesman says. (See Verivue Flips Smaller Flash Switch.)

Verivue has already forged partnerships to help it gain footholds in North America and Europe. It has teamed up with Arris Group Inc. (Nasdaq: ARRS), which is integrating Verivue's video switches with its larger digital video platform, and which has the rights to sell them worldwide. Verivue is also looking to make some waves in Europe via a separate integration agreement with Dutch video software firm eventIS Group B.V., which is being acquired by SeaChange International Inc. (Nasdaq: SEAC) for $36.5 million. (See Arris Pumps Up Video With Dolce's Verivue , Verivue, eventIS Integrate Servers & Software , Friends & Enemies , and SeaChange Goes Dutch for VoD Smarts.)

— Jeff Baumgartner, Site Editor, Cable Digital News

Interested in learning more on this topic? Then come to TelcoTV 2009, the telecom industry’s premier event for the exploration of a comprehensive entertainment convergence strategy, to be staged in Orlando, Fla., November 10-12. For more information, or to register, click here.

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
From The Founder
The comms industry is rallying to the cause of open, independent interoperability testing.
Flash Poll
Live Streaming Video
CLOUD / MANAGED SERVICES: Prepping Ethernet for the Cloud
Moderator: Ray LeMaistre Panelists: Jeremy Bye, Leonard Sheahan
LRTV Interviews
AT&T's Chiosi on the Potential of Open Source

10|6|15   |   06:27   |   (0) comments

AT&T Distinguished Network Architect Margaret T. Chiosi talks to Light Reading's Carol Wilson about the potential for open source technology to liberate communications service providers.
LRTV Interviews
Network Security in a Gigabit World

10|6|15   |   05:52   |   (0) comments

Masergy's James Harrison talks about some of the network security and data center issues network operators need to consider as they expand their broadband services portfolios.
LRTV Documentaries
Telefónica: In Search of Virtual Simplicity

10|5|15   |   07:30   |   (0) comments

Francisco-Javier Ramon Salguero, head of Telefónica's NFV initiative, admits virtualization initially means greater complexity, but with the right abstraction layer, it is possible to create a services-driven network architecture. He explains how Telefónica's current trials and initiatives are aimed at doing that, and what his company and other carriers need to ...
LRTV Interviews
Gigabit Europe Takeaways

10|5|15   |   03:47   |   (0) comments

Participants from the inaugural Gigabit Europe event in Munich share their key takeaways from the conference.
Women in Comms Introduction Videos
Intel Urges Women to Take Advantage of Their Seat at the Table

10|5|15   |   4:27   |   (1) comment

Have inclusive and constructive conversations, attach a bigger meaning to your work and get involved in the cause, Intel's Monique Hayward advises women in comms.
LRTV Interviews
BT Updates on Plans

10|2|15   |   03:16   |   (2) comments

Peter Bell, CIO at Openreach, the access network division at UK incumbent BT, provides an update on the operator's trials and how Openreach is planning to deploy the broadband technology in its street cabinets.
Telecom Innovators Video Showcase
Sonus Shakes Up SD-WAN

10|2|15   |   7:22   |   (0) comments

Sonus CTO Kevin Riley sat down with Light Reading to discuss the trajectory of the company, its SDN ambitions and why Sonus is taking a market-disruptive approve to SD-WAN.
LRTV Interviews
CityFibre's Gigabit Vision

10|1|15   |   03:18   |   (1) comment

Mark Collins, director of Strategy & Public Affairs at competitive UK city network operator CityFibre, talks about his company's plans to help build Gigabit Cities.
Telecom Innovators Video Showcase
Automate, Scale & Create With Juniper's vCPE Solution

10|1|15   |   6:34   |   (0) comments

Join Kireeti Kompella, Juniper Networks CTO, and Steve Saunders, Light Reading Founder and CEO, as they discuss Juniper Networks' approach to NFV showcased with a turnkey vCPE solution, which demonstrates how service providers can use automation to rapidly deploy services.
LRTV Interviews
Gigabit Europe: Day 1 Takeaways

9|29|15   |   05:47   |   (5) comments

Light Reading's Ray Le Maistre and Iain Morris sup a beer and discuss some of the key takeaways from the first day of Gigabit Europe 2015.
LRTV Interviews
Gigabit in Europe

9|29|15   |   04:24   |   (0) comments

At the Gigabit Europe 2015 event in Munich, Heavy Reading's Graham Finnie talks about the availability of gigabit broadband in Europe.
Women in Comms Introduction Videos
AT&T's Band of Women

9|28|15   |   4:36   |   (0) comments

Brooks McCorcle, the president of AT&T's partner solutions divisions and a mathematician by trade, shares stats on AT&T's diversity and advice on how to create your own band of women at work.
Upcoming Live Events
October 14-15, 2015, New Orleans Ernest N. Morial Convention Center, New Orleans, LA
November 5, 2015, Hilton Santa Clara, Santa Clara, CA
November 17, 2015, Santa Clara, California
December 1, 2015, The Westin Times Square, New York City
December 2, 2015, The Westin Times Square, New York City
All Upcoming Live Events
Communication service providers realize that an ICT transformation is critical to their long-term survival, but most haven't yet committed to making it happen.
Hot Topics
Google Gives Huawei a US Device Boost
Dan Jones, Mobile Editor, 9/29/2015
Verizon's Go90 Is Live – Will Anyone Watch?
Mari Silbey, Senior Editor, Cable/Video, 10/1/2015
Eurobites: Dunroamin'
Paul Rainford, Assistant Editor, Europe, 10/2/2015
Following the Bouncing Capex Ball
Carol Wilson, Editor-at-large, 9/29/2015
Good News for NFV Interoperability
Steve Saunders, CEO and founder, Light Reading, 9/29/2015
Like Us on Facebook
Twitter Feed
Webinar Archive
BETWEEN THE CEOs - Executive Interviews
With so many new and exciting communications technologies now under development, it's easy to get caught up in the industry's escalating hype cycle. That's why the ...
Last week saw a big day in the 15-year history of Light Reading when Editor-in-Chief Ray Le Maistre and I were invited to interview the Deputy Chairman and Rotating ...
Cats with Phones
Hold My Calls, Indefinitely Click Here