SecureMedia Closes $4 Million in New Funding to Address Growing Market for CA/DRM Technolog
Tuesday March 15, 7:00 am ET
Financing Led by M/C Venture Partners
NATICK, Mass., March 15 /PRNewswire/ -- SecureMedia, the leading provider of software-based conditional access and digital rights management systems, announced today the completion of a $4 million round of private equity investment. The funding round was led by M/C Venture Partners, which has long been recognized as one of the most active venture capital investors in the emerging communications and related IT industries.
The financing will allow SecureMedia to accelerate its growth to meet the needs of its growing customer base and capitalize on the rapidly increasing demand for content security systems in the global broadband media and emerging IPTV market. SecureMedia plans to use the new financing to increase staffing in development, customer support, and sales and marketing.
SecureMedia's Encryptonite System™ is an open platform CA/DRM solution optimized for the secure distribution of video-on-demand, broadcast TV and other multimedia content over IP networks. Encryptonite provides content owners and distributors the highest levels of digital content security while offering device manufacturers and service providers low cost implementation and operation.
"Since the company's inception in 1996, SecureMedia has developed a solid CA/DRM product with extremely strong support from the major content owners," said Fred Ellis, President and CEO of SecureMedia Inc. "Our Encryptonite System has been successfully deployed by major players in Asia over the past few years, and we are now pursuing numerous opportunities in the U.S. and Europe. The financing provided by M/C Venture Partners will carry us to profitability and provide the necessary capital to compete on a global basis".
"Telcos and other broadband service providers are increasingly adding video to their product arsenal to effectively compete and offer triple-play (voice, video and data) services. At the same time, content owners are demanding strong protections be placed on their highly valued products before they can be carried on new IP networks," said Matthew Rubins, General Partner of M/C Venture Partners. "SecureMedia's technology will enable the next generation of video content delivery by providing this protection in a low- cost, easy to implement fashion."
About SecureMedia, Inc.
SecureMedia, www.securemedia.com, is a leading provider of open platform, media agnostic digital encryption and rights management solutions for the delivery of video-on-demand, broadcast TV and other digital content over broadband IP networks. The Company provides a range of content security solutions from the comprehensive Encryptonite System™ digital rights management solution to software toolkits, hardware cores and plugins for third party media delivery systems. SecureMedia's customers represent industry leaders and include Sony, NTT, Softbank Broadmedia, China Data Broadcasting Network, Kasenna, Equator Technologies, Texas Instruments and RealNetworks. SecureMedia has offices in Boston, San Francisco and Auckland, New Zealand with representatives in Tokyo, Seoul, Beijing and Amsterdam.
About M/C Venture Partners
M/C Venture Partners is totally focused on investing in early-stage communications and related information technology companies. The firm has invested in leading companies across these segments for over 20 years and manages over $1 billion in assets. The firm has strong institutional backing from the nation's leading pension funds and endowments as well as a long track record of success. M/C Venture Partners has offices in Boston, San Francisco and London. For more information, visit: www.mcventurepartners.com.
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