Led by Intel Capital, Investment to fuel Kasenna's Domestic and International Growth in the IPTV and Cable Space
Feb 06, 2006
MOUNTAIN VIEW, Calif
Kasenna, The IPTV CompanyT, a leading provider of VOD programming and next-generation platforms for video content and service delivery, today announced the closing of an $11 million round of funding. Led by Intel Capital with participation by all existing major investors, the private equity investment will be used to further accelerate Kasenna's significant growth in the domestic and international IPTV and cable markets as well as strengthen its balance sheet. The funding will enable the company to scale to the increasing demand for advanced video programming and infrastructure services broadband service providers are facing today.
"Since its inception six years ago, Kasenna has successfully capitalized on its vision of providing a best-of-class platform for video content and service delivery as well as the best in video-on-demand content. This level of funding clearly demonstrates the confidence Intel Capital and our other investors have in the market opportunity and the compelling value delivered to customers through our IPTV solutions," said Mark Gray, chief executive officer and chairman at Kasenna. "We will continue to lead the rapid expansion of video over IP with open standards-based, high-performance turn-key solutions that enable service providers to quickly, easily and profitably deploy, scale, and manage emerging, revenue-generating IPTV entertainment services."
The financing comes on the heels of a very successful year for Kasenna characterized by major customer wins on the telco and cable side including Cavalier Telephone, Charter Communications, Fastweb, and SaskTel, along with numerous independent telecommunications service providers.
Kasenna's next-generation video content and service delivery platform is open standards-based with an intelligent management infrastructure that allows service providers to build commercial-grade IP video networks to support new IPTV services. Originally a division of SGI (Silicon Graphics, Inc.), Kasenna has a successful track record of more than ten years in digital video content management and deployments with leading customers worldwide.
"IPTV represents an exciting opportunity for service providers to offer new digital entertainment services to their customers. Kasenna's open-standard solutions provide critical building blocks that service providers can use to architect these next-generation networks," said Scott Darling, Vice President Intel Capital.
"IPTV is poised for rapid growth and is crucially important to service providers because competition is driving them to move more toward personalization of choice, and unique triple-play offerings," states Gary Schultz, MRG president. "The Intel/Kasenna relationship should have a high impact on the provision of reliable, high-performance, and open-standard IPTV services in the global marketplace."
Kasenna is video with vision. Since 1993, the Kasenna team has led the broadband video industry with a focus on open standards and an intelligent management infrastructure. With its May, 2004 acquisition of ViewNow assets, Kasenna now offers network operators the industry's only turnkey source of IP video infrastructure, applications, and VOD programming for video services. Kasenna's software supports multiple content formats and viewer devices, allowing service providers, enterprises, and other organizations to build commercial-grade IP video networks that support new and emerging video services. Kasenna's patented software technology has been proven in thousands of successful and profitable telecom, cable, hospitality, enterprise, education, and government deployments worldwide. Kasenna is headquartered in Mountain View, California and is privately held. For more information, please visit www.kasenna.com.
CIR Ventures is an early-stage technology venture capital fund sponsored by CIR Group (Milan:CIRX), the industrial holding company of the De Benedetti Group and one of Italy's largest conglomerates. CIR Ventures invests in enterprise and communication software and services companies located primarily in California and Italy. CIR Ventures adds value by leveraging contacts and synergies of CIR Group. For more information, please visit CIR Ventures at www.cirventures.com.