IPTV Provider Avail Media Closes $17 Million Second Round

Avail Media, a Reston, VA.-based provider of IPTV and media services to broadband operators, has secured a $17 million second round financing. The round was co-led by Washington, D.C. area funds Novak Biddle Venture Partners and Columbia Capital. The funding is designed to help Avail expand its service offerings and add staff for operations and technology development. The company, which was founded earlier this year as the result of the merger between Auroras Entertainment and Broadstream Communications, is headed by CEO Ramu Potarazu, the former CEO of Broadstream Communications and COO of Intelsat. Diane Smith, former CEO of Auroras Entertainment, serves as president. Release

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