Envivio grabs $14 million

Envivio raised a $14 million second round of funding with help from Bertelsmann, Intel Capital, Harbinger Ventures and others. Previous investors included Philips, Sigma Designs and France Telecom. Bertelsmann and Harbinger both received a seat on Envivio's board of directors. Envivio makes MPEG-4 software, a wide-ranging set of audio and video technologies designed in part to condense large digital packages into small files that can be easily transmitted online. The company said the funding will be used to develop products and to expand marketing, sales channel and customer support capabilities.

May 23, 2002 2:09 p.m. PT

Envivio raised a $14 million second round of funding with help from Bertelsmann, Intel Capital, Harbinger Ventures and others.

Previous investors included Philips, Sigma Designs and France Telecom. Bertelsmann and Harbinger both received a seat on Envivio's board of directors.

Envivio makes MPEG-4 software, a wide-ranging set of audio and video technologies designed in part to condense large digital packages into small files that can be easily transmitted online. The company said the funding will be used to develop products and to expand marketing, sales channel and customer support capabilities.