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Goldman Sachs leads funding round for Verimatrix

Wed, 07/23/2008 - 8:20am
Mike Robuck

San Diego-based Verimatrix, which provides digital rights management (DRM) and watermarking products to IPTV, cable and satellite providers, recently secured a third round of funding that was led by Goldman Sachs.

Verimatrix did not release the amount of funds that were raised in its most recent round, but second-round investors Crescendo Investments, Cipio Partners and Mission Ventures also participated in the series C investment.

With the closing of the series C funding, Rohit Malhotra of Goldman Sachs’ Principal Investment Area will join the Verimatrix board of directors.

“We see Verimatrix’s core strength in understanding pay-TV market dynamics and proactively responding with the right technology offerings,” Malhotra said. “Digital entertainment is on a clear path of network and platform convergence where the winners will be companies that facilitate a seamless experience for the consumer. Verimatrix is well positioned to enable competitive service offerings in a multi-screen world.”

Over the past year, Verimatrix hit several major milestones with the addition of four new or enhanced products, doubling its customer base to more than 150 IPTV customers in 32 countries and surpassing the five million screens secured mark. Its suite of VCAS products were designed to offer a layered content security system that enables transparent delivery of content to multiple screens across different networks.

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