Monday, December 1, 2008

ExtendMedia grabs $10M in Series C funding

By Mass High Tech Staff

Digital content software and services company ExtendMedia Corp. has brought in $10 million in its third round of venture funding from previous investors including Waltham firms Atlas Venture and Venrock Associates, and Boston-based TVM Capital, according to officials.

The latest round brings the total venture funding in Newton-based ExtendMedia to $33 million over three rounds, including a $12 million Series B round in April 2007.

Executives at Newton-based ExtendMedia reported in April that the company’s digital content services software had been employed to deliver movie content for Bell Canada’s Bell Video Store.

The Bell Canada movie offering allows users to legally download - for rental or purchase - more than 1,500 movies and television shows. Through partnerships with movie studios including Paramount Pictures, Corus Entertainment, Maple Pictures, Eros Entertainment and Image Entertainment, the offering is the first in Canada to offer movies the same day they become available in retail stores, according to a company statement.

Additional customers include Hewlett-Packard, SHOWTIME, ClickStar, Cablevision and Manitoba Telecom Services.

Founded in 1991 (then as Digital Renaissance), ExtendMedia provides a software platform and related services that allow content owners to distribute full-length content to a number of different devices, including PCs and mobile devices.