Rinera Raises $9M
This round of funding came from New Enterprise Associates (NEA) and Foundation Capital , both of which have invested previously. The funds will be used to increase research and development of the company's technology, which is reportedly going to create an alternative to today's content delivery networks.
Rinera is the creation of Carnegie Mellon University professor Dr. Hui Zhang and University of California at Berkeley prof Dr. Ion Stoica, who have spent the last several years researching distributed technologies.
Zhang says Rinera fills a void in the video distribution market, where special technology is needed. "If you look at Internet video, the applications are way ahead of the technology. It's a scaling problem," Zhang says.
Zhang declined to go into detail, saying his startup was in "semi-stealth mode" until it made its first product announcement later this year.
Pete Sonsini, principal at NEA, says Rinera's technology is "not a P2P play and not a server-based game," but a "new architecture built from the ground up" to address the video distribution market.
Sonsini also says Rinera is not targeting the consumer market the way other video distribution companies are: "Rinera is not looking to be a portal or a destination site for video content, but to power destination sites."
Therefore, it will compete less with products from P2P application providers, and more in the service delivery area, with players such as Akamai Technologies Inc. (Nasdaq: AKAM), CacheLogic , and Limelight Networks Inc. (Nasdaq: LLNW).
Rinera's product is set to become publicly available later this year, but Zhang says its technology is already in trials with customers.
— Ryan Lawler, Reporter, Light Reading