PermissionTV tunes in to $9M in new funding

Waltham-based PermissionTV Inc., a maker of an Internet protocol television (IPTV) platform for helping enterprises use Internet video, reports it has closed a $9 million round of funding, adding two new investors and two new board members.

The round, which was led by new investors Castile Ventures of Boston and Point Judith Capital of Rhode Island, brings the company's total funding to $10 million since last November. Returning investors included Common Angels, CramerOnline, Inflection Point Investors, the Massachusetts Technology Development Corp., SAS Investors, and the Venture Capital Fund of New England.

With the funding, the company also added Castile Ventures' Carl Stjernfeldt and Point Judith Capital's Sean Marsh to the company's board.

The funding will be used for general corporate purposes, including expanding its sales team, according to company officials.

PermissionTV makes Internet video platforms for large brands looking to create IPTV channels and other video experiences. Over the past year, the company has signed 30 companies and business units to its platform, including Adobe Systems, Agency.com, Intercontinental Hotels, Toyota Scion, Update Hollywood, and Whitman Hart.

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.