Move Networks nabs $46 million for high-def TV tech
The content delivery network has a high-profile list of backers, too. They include Benchmark Capital, Cisco, Comcast Interactive Media, and Televisa.
Move Networks, a content delivery network for high-definition television online, has closed on a $46 million series C round of financing led by Benchmark Capital. Cisco Systems, Comcast Interactive Media, and Televisa, along with the company's previous investors, Steamboat Ventures and Hummer Winblad Venture Partners, also joined the round.
The American Fork, Utah-based company has raised more than $44 million in two previous rounds of funding since 2006. The company supplies video-delivery technology to publishers including ABC, Discovery, ESPN, and Fox. But it has a hefty list of rivals, including Akamai Technologies, Edgecast, and Limelight Networks.
Benchmark general partner Bill Gurley said that the investment was a nod to Move's growing presence in the business. "The best brands with the best content want full control of their experience and their advertising relationships. The Move platform is the only choice on the market that optimizes this strategic imperative," Gurley said in a statement.