Wednesday, August 12, 2009

Boston VC firms add to Boxee’s $6M funding round

By Mass High Tech staff

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Cambridge venture capital firm General Catalyst Partners led a $6 million Series B financing round in Boxee Inc., a social media firm based in New York. Boston-based Spark Capital and New York-based Union Square Ventures also returned from a 2008 Series A investment to participate in this latest round.

The company announced the new funding on its blog, Boxee Blog. Boxee is a free open-source software platform that lets users share information on what movies and television shows they’re watching or what music they’re listening to with friends via Boxee or other social networks.

According to its Boxee blog posting, the company said it plans to use the funding to work on a Beta release due this fall, add more media content, further develop and monetize applications on Boxee, and develop Boxee for embedded applications.

As part of the investment, General Catalyst’s Neil Sequeira will join the Boxee board of directors.