Kasenna Raises $11 Million of Growth Capital8 February 2006
Kasenna, The IPTV Company(TM), a leading provider of VOD programming and next-generation platforms for video content and service delivery, today announced the closing of an $11 million round of funding. Led by Intel Capital with participation by all existing major investors, the private equity investment will be used to further accelerate Kasenna's significant growth in the domestic and international IPTV and cable markets as well as strengthen its balance sheet. The funding will enable the company to scale to the increasing demand for advanced video programming and infrastructure services broadband service providers are facing today.
"Since its inception six years ago, Kasenna has successfully capitalized on its vision of providing a best-of-class platform for video content and service delivery as well as the best in video-on-demand content. This level of funding clearly demonstrates the confidence Intel Capital and our other investors have in the market opportunity and the compelling value delivered to customers through our IPTV solutions," said Mark Gray, chief executive officer and chairman at Kasenna. "We will continue to lead the rapid expansion of video over IP with open standards-based, high-performance turn-key solutions that enable service providers to quickly, easily and profitably deploy, scale, and manage emerging, revenue-generating IPTV entertainment services."
The financing comes on the heels of a very successful year for Kasenna characterized by major customer wins on the telco and cable side including Cavalier Telephone, Charter Communications, Fastweb, and SaskTel, along with numerous independent telecommunications service providers.
Kasenna's next-generation video content and service delivery platform is open standards-based with an intelligent management infrastructure that allows service providers to build commercial-grade IP video networks to support new IPTV services. Originally a division of SGI (Silicon Graphics, Inc.), Kasenna has a successful track record of more than ten years in digital video content management and deployments with leading customers worldwide.
"IPTV represents an exciting opportunity for service providers to offer new digital entertainment services to their customers. Kasenna's open-standard solutions provide critical building blocks that service providers can use to architect these next-generation networks," said Scott Darling, Vice President Intel Capital.
"IPTV is poised for rapid growth and is crucially important to service providers because competition is driving them to move more toward personalization of choice, and unique triple-play offerings," states Gary Schultz, MRG president. "The Intel/Kasenna relationship should have a high impact on the provision of reliable, high-performance, and open-standard IPTV services in the global marketplace."
About Kasenna
Kasenna, Inc. is a leading provider of VOD programming and next-generation platforms for video content and service delivery. Kasenna's carrier-class solutions enable telecommunications service providers, cable operators, and other industries to maximize their profit by offering new video entertainment services that redefine and enhance the subscriber experience. With its acquisition of ViewNow, Kasenna offers network operators the industry's only turnkey source of IP video infrastructure, applications, and VOD programming. Kasenna's patented software technology, built on open standards and an intelligent management infrastructure, has been proven with numerous successful and profitable telco, cable, and enterprise deployments worldwide. Kasenna is privately held with headquarters in Mountain View, California, and office locations worldwide. For more information, please visit http://www.kasenna.com.
Source: prnewswire
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