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ExtendMedia extends funding, adds to board

Fri, 04/06/2007 - 10:15am
Traci Patterson, CED

ExtendMedia has received $12 million in a Series B venture capital funding round led by TVM Capital.

The round tails an $11 million Series A round, bringing the total funding to $23 million. ExtendMedia investors Atlas Venture and Venrock Associates also participated in the new round.

The funds will be used to accelerate sales, marketing and product development efforts for both direct-to-consumer and ad-supported digital content business, the company said. ExtendMedia’s platform enables content rights holders and distributors to create, manage, secure and monetize content services via broadband, TV and mobile devices.

The company’s OpenCASE solutions aid in powering media commerce for Hewlett-Packard, SHOWTIME, ClickStar, Cablevision, Bell Canada and Manitoba Telecom.

Boston-based ExtendMedia has also appointed Edward Braginsky, TVM Capital’s general partner, to its board of directors.

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