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Verismo picks up another $17M

Tue, 11/16/2010 - 7:25am
Brian Santo

Verismo Networks said it closed a round of $17 million in financing led by new investor Intel Capital and including previous investors.

Verismo said it will use the proceeds for general purposes, including expanding operations.

The company recently announced its VuNow Internet TV platform, which service providers can use to stream traditional linear channels combined with VoIP and social networking applications over the Internet. The product was voted as the best new product by executives attending the CableLabs Technology Forum in the winter of 2009.

The company is positioning the system as a means for service providers to extend their services to green field markets outside their existing footprint.

"The service provider industry has begun its foray into the changing new world of diversified and on-demand entertainment. We are excited about the breadth of Verismo's technology offering and their ability to integrate multi-tiered and multiple services for their customers with existing infrastructure," said Curt Nichols, managing director of Intel Capital.

"Verismo's platform opens up the market to new and emerging service providers – enabling them to deliver rich content and services to new customers worldwide. Companies such as Verismo are paving the way to the new future of TV," Nichols added.

The company has several deployments, including one in the Caribbean and another in the U.K.

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