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Verimatrix Branches Out

3:35 PM -- Verimatrix had picked up $23 million total in investments before last month's Series C announcement (of undisclosed size). (See Verimatrix Gets Some Cash.)

The new money came on the heels of a Series B raised by the security and conditional access company last year. (See Verimatrix Scores $5M.) At the time, Verimatrix was talking about expanding its reach beyond IPTV, which still represents 90 percent of its revenues, and CEO Tom Munro is still beating that drum.

"We want to be able to take the technology that we've developed and the lessons that we've learned and apply that to digital television in general," Munro says.

That's going to require product development, as 90 percent of Verimatrix's revenues still come from IPTV.

The first step was to engage the cable industry, something Verimatrix did last year before closing its Series B funding. Munro makes it sound like those deals are getting finalized. (See Verimatrix Cuddles With Cable.)

Verimatrix is also poising itself for the mobile TV market and claims it's seen some early success from the ViewRight PC Player, version 2.0 of which came out in March. (See Verimatrix Announces Mobile DRM Solution and Verimatrix Plays PCs.)

— Craig Matsumoto, West Coast Editor, Light Reading

Pete Baldwin 12/5/2012 | 3:34:39 PM
re: Verimatrix Branches Out Quick correction: Verimatrix's $23M total did *not* include the series C that was announced a couple of weeks ago.

That makes more sense. I've corrected the story.
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