Start-up Boxee brings in $6M in round of funding
There is some venture capital out there still to be had, and some VCs are clearly willing to see if anyone can blow up the current television model. Boxee just pulled in $6 million in a second financing round, this one led by General Catalyst, with participation by prior investors Spark Capital, Union Square Ventures and Neil Sequeira.
Boxee is a start-up with software that lets consumers hook up their PCs to their TVs to watch content available on the Internet. The key element is an interface that puts all of the content from disparate sources – the Web, the consumer’s own PC – into a single navigation guide.
The company is currently providing direct access to content from MLB.com, Netflix, Pandora, Last.fm and Flickr.
Late last year, the company started offering content from Hulu, but had to desist when the companies providing content to Hulu complained about the arrangement.
Boxee said it plans to use the recent infusion of money to continue working on the beta release of its software, which it said is due later this fall. It also said it is looking to create a roadmap for 2010; collect more content from ad-based, subscription-based and a la carte type services; and pursue ongoing talks with consumer electronics manufacturers to get the Boxee software installed on Blu-ray players, game consoles and set-top boxes.
The company also vowed to extend its APIs to attract more third-party vendors to create applications for Boxee.