Rinera Networks, a San Mateo, Ca. online video distribution start-up, has raised $9 million in a first round of funding from New Enterprise Associates and Foundation Capital.

See the statement here.

Dr. Hui Zhang, President, and Dr. Ion Stoica, CTO, founded Rinera to address unsolved problems in delivering high quality video over the Internet, the company said.

Here’s a snippet from the release:

Dr. Zhang from Carnegie Mellon University and Dr. Stoica from U.C. Berkeley are considered amongst the world’s top researchers in distributed network technologies. As a result of collaborative research efforts conducted over the past several years, they have pioneered a set of leading-edge distribution technologies that will enable content owners to deliver live, on- demand, and user-generated video to consumer audiences with superior quality and security at very low cost. Rinera’s unique Coordinated Video Distribution System (CVDS) allows content owners to offer a consumer experience that is on- par with or better than that offered by server-based Content Delivery Network (CDN) solutions. Furthermore, Rinera’s technology provides excellent network efficiency and breakthrough traffic management capabilities for both content owners and network service providers.

“Video is rapidly growing to consume well over 50% of available Internet resources. However, today’s Internet is optimized for highly bursty traffic, such as web traffic. This mismatch of technologies requires new approaches to networking. We have developed unique protocols and algorithms that will be fundamental to this emerging large-scale data distribution problem,” says Dr. Stoica.

Adam Grosser, general partner at Foundation Capital, joins the board, which also includes NEA general partner Dr. Forest Baskett and principal Peter Sonsini. The company said it is conducting trials with selected customers and plans to make its technology available to the marketplace later this year.