Widevine has raised $15 million in funding for its business of delivering video to web-connected consumer electronics gear.
New investors include Liberty Global, Samsung Ventures and a third, unnamed, strategic investor. The Seattle-based company is trying to deliver software that makes it possible to deliver entertainment over any network to any device, fulfilling a goal of “TV everywhere” for cable, satellite and phone companies.
The company’s technology includes video optimization, which means it will size the video for a particular display and play it at a rate that matches the speed of its Internet connection. It lets consumers bookmark, fast forward, or rewind Internet video. The content it distributes has digital rights management to prevent piracy.
The company will use the new funds to support its customers, add new products and defend its legal rights, said Widevine chief executive Brian Baker. The company has 55 patents.
Altogether, the investors include Cisco, Charter Ventures, Constellation Ventures, Dai Nippon Printing Co., Liberty Global PaceSetter Capital Group, Phoenix Partners, Samsung Ventures America, VantagePoint Venture Partners, Western Technology Investments and an unnamed corporation.
Baker founded the company in 1999 and became CEO in 2001. Prior to this round, Widevine had raised $65 million. Customers include AT&T, Best Buy, NBC, Blockbuster, Deutsche Telekom, Digeo, and others.