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Conviva snags $20M investment

Tue, 08/26/2008 - 8:05am
Mike Robuck

Conviva, which manages the distribution of live media and online programming on the Internet, said it has secured $20 million in a second round of funding.

UV Partners led this most recent round of funding, which also included participation from first-round investors New Enterprise Associates and Foundation Capital.

The latest round brings Conviva’s total amount raised to $29 million and will help the company expand its global platform, accelerate product development and invest in business development with customers.

Along with the second round of funding, Conviva announced that Dr. Carl Ledbetter, the managing director of UV Partners, has joined its board of directors. Prior to joining UV Partners, Ledbetter was senior vice president of engineering/research and development and chief technology officer at Novell, and he was responsible for Novell’s venture fund.

Earlier in his career, Ledbetter was president of AT&T’s consumer products division and held senior positions at Sun Microsystems, IBM and Control Data Corporation.

Conviva said its C3 media platform helps content owners intelligently and securely manage the distribution of live media and real-time programming online. Built for live media from day one, Conviva said the platform enables content owners to create a new “virtual living room” audience experience and improve the economics of digital media on the Internet.

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