Vuze Inc., which focuses on delivering high-resolution IPTV video by using a peer-to-peer (P2P) Internet distribution service, announced today that it has received $20 million in its third round of funding.
Palo Alto, Calif.-based Vuze, which has an installed base of 15 million client downloads, said the round was led by New Enterprise Associates. Other investors in the C round of funding included Redpoint Ventures, Greycroft Partners and BV Capital.
TiVo co-founder and former CEO Mike Ramsay also joined Vuze’s board of directors, the company said.
Vuze was formerly known as Azureus Inc.
"In January 2007, we launched Vuze, which has achieved tremendous organic consumer adoption,” said Gilles BianRosa, CEO of Vuze, in a statement. “Over the course of the year, we closed more than 100 premium content partnerships, while opening our platform to maverick content creators everywhere.
This funding round will enable us to capitalize on the significant consumer adoption of our platform in the U.S. and Europe."