Streaming provider brings in $4 million

ChainCast Networks, a provider of streaming services for Internet radio, has secured $4 million in its latest round of funding with investors that included GIC Special Investments. The company said it will use the additional funds to launch new services and software products for enterprise audio-video streaming. San Jose, Calif.-based ChainCast Networks said it markets its streaming service, dubbed Virtual Multicast Routing, to media groups, radio Webcasters and corporate enterprises. In October, ChainCast acquired Seattle-based, StreamAudio, a Web radio and ad-replacement company.