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Verimatrix secures extra funding |
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| Chris Forrester, on 23-07-2008 |
Software encryption specialists Verimatrix has secured third round financing from a consortium of investors led by Goldman Sachs. Terms and the amount involved were not revealed, but previous rounds raised $23m.
“The new capital will fund aggressive business expansion and accelerate
deployment of Verimatrix’s 3-Dimensional Content Security solutions
into the rapidly-evolving hybrid, cable and satellite markets around
the world. New generations of products to address these markets will be
developed from its global number one Verimatrix Video Content Authority
System (VCAS) technology core,” said a Verimatrix statement.
All of the company’s Series B round of investors, Crescendo
Investments, Cipio Partners and Mission Ventures, participated in this
round “demonstrating continued commitment to Verimatrix’s growth. With
the closing of the Series C funding, Rohit Malhotra of Goldman Sachs’
Principal Investment Area will join the Verimatrix Board of Directors,”
added the statement.
“We see Verimatrix’s core strength in understanding pay-TV market
dynamics and proactively responding with the right technology
offerings,” said Malhotra. “Digital entertainment is on a clear path of
network and platform convergence where the winners will be companies
that facilitate a seamless experience for the consumer. Verimatrix is
well positioned to enable competitive service offerings in a
multi-screen world.”
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