More Funding for BitGravity, Verimatrix
Next-generation CDN BitGravity likes to talk about how it hasn’t raised much funding, but then it goes and makes two investment announcements in as many months. The company is announcing Monday it has taken $11.5 million from its strategic partner Tata Communications alongside the launch of Tata’s new global CDN service built with BitGravity. That’s still only a total of $14 million in funding, but maybe it’s time for a new press narrative!
Also, video protection company Verimatrix sent word that it’s added SunAmerica Ventures (part of AIG) to its Series C round, which was led by Goldman Sachs. The amount of the round is still undisclosed, but the company said it’s its largest round to date, adding onto $23 million in previous funding. Verimatrix plans to put the funding towards entering traditional pay-TV markets.
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[...] service that will use DT’s backbone network. Edgecast is following the footsteps of its rival BitGravity, which had teamed up with Tata Communications to power a global CDN service for [...]
Deutsche Telekom Partners With Edgecast for…
— 12:00 AM on January 26, 2009
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[...] service that will use DT’s backbone network. Edgecast is following the footsteps of its rival BitGravity, which had teamed up with Tata Communications to power a global CDN service for [...]
Deutsche Telekom Partners With Edgecast for…
— 7:49 AM on February 21, 2009
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The type of funding BitGravity is getting looks a great deal different than what one would see in a traditional VC round. These are partnerships with Industry leaders. To me this is a much more organic growth process than we are seeing from other CDN companies. BitGravity is adding value and marketability along with capital.
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