Thursday, August 7, 2008

Bain pours $10M into TokBox web video

By Mass High Tech Staff

Boston-based Bain Capital Ventures has led a $10 million Series B financing of TokBox Inc., a web-based video communication service, the company reported.

California-based Sequoia Capital, which led TokBox’s Series A financing, also invested in the round.

San Francisco-based TokBox, which launched in October 2007, is designed to give users the tools to add a video communication element to their blogs, social networking or commerce and community sites profile by embedding the unique application directly into the page. The company will use the new funding to build out its executive team and drive expansion of its user base, officials said.

Bain Capital Ventures, which was founded in 1984, is the venture capital arm of Bain Capital Partners LLC, whose affiliates manage more than $78 billion of assets with multiple funds.

Bain Capital has invested in more than 230 companies such as New York-based Doubleclick Inc., Stamford, Conn.-based Gartner Inc. and Framingham-based Staples Inc.

In June, the firm reached an agreement to buy out Japanese audio and video products maker D&M Holdings Inc. for $445 million. A simultaneous tender offer agreement between Bain Capital and RHJ International SA, a D&M Holdings’ shareholder, gave Bain Capital a 49 percent stake in D&M Holdings.