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Maven Networks nabs $10 million

The broadband media company, which sells software to National Geographic and others, raises $10 million in funding from Silicon Valley venture capitalist Accel Partners.

Broadband media company Maven Networks raised $10 million in funding this week from Silicon Valley venture capitalist Accel Partners. The Cambridge, Mass.-based company also named Accel managing partner Jim Breyer and former Macromedia CTO Jeremy Allaire to its board of directors. The company's second round of funding, bringing its total investments to more than $15 million, also included early Maven-backer General Catalyst Partners, an equity firm also based in Cambridge, Mass.

Maven sells broadband media software to companies including Virgin Records, National Geographic and Atom Films. Its seminal product, the Maven Media System, is designed to deliver full-screen TV-quality video onto the PC by downloading and storing files on a computer's hard disc for unhampered playback. It works in concert with video compression technology from Microsoft Windows, RealNetworks and Apple's QuickTime, but it's capable of adding a level of interactivity to video for e-commerce and marketing.