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Print Edition StoriesWednesday, September 9, 2009
Verivue streams $20M straight to coffers in latest round
By Rodney H. Brown
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Media distribution hardware maker Verivue Inc. has raised $20 million in its latest round of equity financing, according to federal documents.
Westford-based Verivue has now taken in approximately $85 million in investments since it launched in 2007, with its first round of $25 million closing in April of that year and a $40 million second round closing in July of 2008. While specific investors weren’t identified in this latest round, backers include Boston’s Spark Capital, Waltham-based Matrix Partners and Philadelphia-based Comcast Interactive Capital, which led the second round.
Also backing Verivue, according to the company’s website, is North Bridge Venture Partners of Boston, Accel Partners of California and Arris Group Inc., a global telecommunications technology company based in Georgia that Verivue also counts as a distribution partner.
Verivue makes a blade server-based media distribution switch, and in March rolled out its first products, the MDX 9000 series, switches aimed at helping communications companies, cable operators and content delivery networks store and deliver IP video quickly, to any end device such as a PC or a smartphone.
The founders of Verivue include former Juniper Networks Inc. executive Jim Dolce and former Sonus Networks Inc. co-founders Rubin Gruber and Mike Hluchyj.
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