BigBand Networks raises $15m in fourth funding round

The round was led by Meritech Capital Partners, a new US-based investor. BigBand develops broadband systems for TV broadcasts.

BigBand Networks Inc., which makes broadband infrastructure systems for television broadcasts, today announced that it completed a $15 million venture capital financing round, the company’s fourth.

The round was led by Meritech Capital Partners, a new US-based investor, Big Band said. Previous investors - including AOL Time Warner Ventures, Charles River Ventures, Evergreen Investments, Pilot House Ventures and Redpoint Ventures - also participated in the round.

With the fourth round now complete, BigBand has raised $75 million to date.

BigBand develops and manufactures NativeMedia technology, which routes multiple media types in their native formats over broadband networks.

The company is based in Redwood City, California, and its development center is in Israel.

BigBand Networks president and CEO Amir Bassan-Eskenazi said, “The funds raised position the company to continue our aggressive agenda of close market interaction, innovative product development, and steep sales and fulfillment growth. At the same time, we can leverage our capital position to consider strategic opportunities that enhance our service of customer needs.”

Meritech Capital Partners managing director Paul Madera said, “We are very pleased to align with BigBand Networks, and expect great things from the company in the markets for video and multimedia services over broadband networks. We have carefully tracked BigBand Networks’ progress over the past two years, and have been impressed by its continuing revenue growth in this difficult economic environment.”

BigBand says it has achieved leadership in digital video infrastructure during its six quarters of commercial activity. BigBand has over 20 broadband network operators as customers, including seven of the top ten North American cable operators, the company says.

BigBand’s platform powers live programming to more than six million digital cable subscribers, while more than four million of these subscribers are on networks in which BigBand solutions also drive HDTV programming, the company says.

Published by Globes [online] - www.globes.co.il - on 23 June, 2003

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018