RGB Closes $12M Round

RGB Networks closes latest round of funding with $12 million

January 11, 2005

2 Min Read

SAN MATEO, Calif. -- RGB Networks, the leader in network video processing, today announced it has closed its latest round of funding totaling more than $12 million from strategic investors Comcast Interactive Capital (CIC) and venture capital firm Mitsui & Co. Venture Partners (MCVP) and from existing investors Accel Partners and Kleiner Perkins Caufield & Byers. In addition to co-leading the round, CIC has joined RGB’s board of directors, where it will assist the company in realizing its strategic mission.

RGB’s networked video processing solutions, based on its Video Intelligence Architecture™ (VIA™), enable cable operators and telcos to create efficient switched digital video networks that effectively manage, scale and deliver advanced services such as Video On Demand leveraging high-speed Gigabit Ethernet technology. A recent study by research firm In-Stat/MDR indicates the market for Gigabit Ethernet video delivery equipment will grow from $63 million today to approximately $920 million in 2008.

“To have investors of Comcast Interactive Capital’s and Mitsui’s caliber make such a substantial commitment to RGB Networks is a strong endorsement of our strategic vision and a vote of confidence in our ability to deliver the right technology,” said Adam S. Tom, RGB’s president and CEO. “This financing round will enable us to accelerate our efforts to deliver a family of products for effectively expanding a cable operator’s usable bandwidth.”

“We believe technology like RGB’s will play a critical role in enabling the cable industry to scale On Demand offerings allowing operators such as Comcast to differentiate and enhance video services for their customers,” said Louis A. Toth, managing director, Comcast Interactive Capital and the newest member of RGB’s board of directors. “Equally critical is RGB’s potential contribution toward simplifying the transition to all-digital networks without requiring intense capital expenditures. We feel confident in this management team’s ability to execute on this vision considering their proven track record.”

RGB Networks Inc.

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