Cox, Comcast back MetaTV
Interactive-television software company MetaTV has closed $21 million in financing. Cox Communications Inc. and Comcast Corp. led the round.
MetaTV plans to use the funds to further develop its on-demand software, which leverages existing digital, video-on-demand and Internet infrastructure. The software was built using a common operational model for deploying, validating, provisioning, reporting and managing services for content distribution in various markets and environments, according to MetaTV.
Hearst Interactive Media, Atrium Venture Partners, Liberate Technologies, Redpoint Ventures and Rosewood Venture Group also participated in the round.
Earlier this year, Cox announced MetaTV would design, develop, deploy and manage Cox-branded iTV services in a number of cities. At the time, Cox said MetaTV's services would complement its digital cable service.
Comcast Corp. is a new MetaTV investor, while Cox and Comcast Interactive Capital participated in a funding round in April 2001 that brought in $28 million.
In conjunction with the funding announcement, the company named Comcast's Mark Hess to its board of directors. Hess is vice president of digital television at Comcast Cable Communications Inc., Comcast's cable division.