Thursday, May 27, 2010

Move Networks Raises $3.0M, Sets Up Shop In Irvine

Move Networks, a developer of adaptive streaming technology used to stream high definition television over the Internet, has raised $3.0M in a funding round, part of what appears to be a $20M targeted fundraising effort, and also set up its corporate headquarters in Irvine. The firm, which was previously based in American Fork, Utah, has not yet announced the funding or details of the new corporate headquarters. Source of the funding was not disclosed, however, Dan Beldy, a venture capitalist at Steamboat Ventures, remains listed as a board member. The firm has previously raised funding from Benchmark Capital, Cisco Corp., Comcast Interactive Capital, Hummer Winblad Venture Partners, Microsoft Corp., and Steamboat Ventures. Move is now headed by Roxanne Austin, who has previously served as President and COO of DIRECTV; the firm was founded by Drew Major, who was founder of Novell. More information »

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