News
Gotuit Media Corp., an Andover, Mass.-based company that makes software for digital video recorders and video-on-demand applications, said it raised $6 million, led by Highland Capital Partners.
The cash infusion marked the first institutional round for the start-up, which has raised just over $8 million so far, a company spokeswoman said.
Gotuit said it will use the cash to support its "video indexing services" and its ongoing software integration with DVR gear and VOD systems.
Gotuit's flagship product, Gotuit TV, indexes digitally recorded video content. Using metadata associated with television shows, the company claims its software can "slice and dice" programming into digitally-labeled segments. For instance, Gotuit TV is designed to carve a news program into specific stories or sort a baseball game inning-by-inning.
In the first quarter of 2001, Gotuit inked a deal to supply its software to Motorola Broadband for use in advanced digital cable set-tops with on-board DVR capabilities. Motorola, at that time, made an undisclosed investment in Gotuit.
Gotuit said it is presently in trials with an unnamed "major" U.S. cable operator.


