RGB Networks snags $20M in funding
Also participating in this latest round were RGB’s earlier investors – Accel Partners, Comcast Interactive Capital, Kleiner Perkins Caufield & Byers and Focus Ventures.
The new funding gives RGB Networks, which is known for its network edge video processing technology, a company valuation of $200 million – an 82 percent increase compared with its $110-million valuation in June 2006.
RGB has primarily made its mark in the cable industry but has previously said it plans to expand into the telco and satellite markets, as well. The company is also viewed as a prime candidate for its own initial public offering. A spokesman for RGB said that the company is targeting next year for its IPO.
“RGB’s products have been accepted by operators worldwide who are using our advanced solutions to generate more advertising revenue and to maximize their bandwidth for the delivery of more high-definition and digital programming,” said RGB Networks CEO Jef Graham. “This new funding will help us build on our success, providing the resources for aggressive expansion of our staffing, product lines and market presence.”
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