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SAN DIEGO--- Verimatrix Series C Investment Led by Goldman Sachs; Accelerates Penetration of New Pay-TV Markets |
| 7/23/2008 @ 6:55 AM
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Verimatrix, setting the standard in content security technologies that enhance the value of pay-TV networks, today announced its Series C round of new funding led by Goldman Sachs. The new capital will fund aggressive business expansion and accelerate deployment of Verimatrix’s 3-Dimensional Content Security solutions into the rapidly-evolving hybrid, cable and satellite markets around the world. New generations of products to address these markets will be developed from its global number one Verimatrix Video Content Authority System (VCAS ) technology core.
All of the company’s Series B investors, Crescendo Investments, Cipio Partners and Mission Ventures, participated in the round demonstrating continued commitment to Verimatrix’s growth. With the closing of the Series C funding, Rohit Malhotra of Goldman Sachs’ Principal Investment Area will join the Verimatrix Board of Directors.
“We see Verimatrix’s core strength in understanding pay-TV market dynamics and proactively responding with the right technology offerings,” said Malhotra. “Digital entertainment is on a clear path of network and platform convergence where the winners will be companies that facilitate a seamless experience for the consumer. Verimatrix is well positioned to enable competitive service offerings in a multi-screen world.”
Over the past year, Verimatrix has hit several major milestones with the addition of four new and enhanced products, doubling its customer base to more than 150 IPTV customers in 32 countries and by surpassing the 5 million screens secured mark. Central to its 3-Dimensional Content Security vision, Verimatrix’s technology roadmap extends beyond encryption technologies to the opportunities and applications that new pay-TV networks must offer. Its suite of VCAS solutions offers a layered content security system that enables transparent delivery of content to multiple screens across different networks.
“We have certainly succeeded in securing two-way, IP-based networks with software-only solutions. To support the ambitions of our customers and partners, we need to extend our security envelope to include more traditional pay-TV markets,” said Tom Munro, CEO, Verimatrix. “The excellent support of our investors enables us to accelerate the development of next generation content security solutions built on our VCAS technology foundation.
Munro added, “With the completion of this Series C investment, our business plan is fully funded, and we are able to quickly scale our operations. As the majority of our business comes through our industry leading channel partners, OEMs and integrators, we will make ongoing investments in interoperability, testing, and monitoring platforms to support their rapid growth and increasingly complex system architectures.” |
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