RGB Networks raises $20 milllion for video processing chips

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RGB Networks raised $20 million in a fourth round of funding for continued expansion of its video processing chip business.

Institutional Venture Partners led the round. Also participating were existing investors Accel Partners, Comcast Interactive Capital, Kleiner Perkins Caufield & Byers and Focus Ventures, according to VentureWire.

The Sunnyvale, Calif., company has raised $57 million to date. The company has 125 employees. It was founded in 2003 and launched its first products in 2005. The company competes with Motorola, Cisco, and others. The company’s chips let cable operators and others create switched video networks that can handle on-demand video delivery and conversion of video from one format to another.