Conviva Raises $20 Million Second Round For Live Internet Video

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imageConviva, a startup promising a superior way for companies to distribute live internet video, has raised a big $20 million second round led by UV Partners, along with past backers New Enterprise Associates (NEA) and Foundation Capital. The San Mateo, CA-based company, previously known as Rinera, raised $9 million early last year, for a total raise of $29 million. The company’s technology is a bit of a mystery, compounded by the fact that it’s raised so much money before having a product to sell. The announcement says the company is building a “virtual living room,” though CEO Carlos Ramón didn’t care to clarify what that meant in an interview with NewTeeVee. Sans any details about itself, the company is mainly speaking up about the weaknesses of current technology. Release.

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There are no customers. Ok there is 1 customer. Nobody wants to try this for free via trial. Take it from me, I use to work there. This company does have software but I wouldn't deploy my data over this CDN. Not if I want to keep my broadcasting job. Frankly I don't know how they secured 20million. We had nothing to show for it. Just goes to show how good Carlos is at selling vapor.

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