Blog Post

TV Startup Sezmi Closes $33 Million Funding, Even As It Lays Off Staff

imageUpdated: Nov 25, ’08: The company has officially announced its new round, and it closed in at $33 million. More details here.

Original post: Nov 24, ’08: Sezmi, the ambitious TV startup founded by Phil Wiser, former CTO of Sony (NYSE: SNE) America, has raised about $28 million in new funding, and is aiming to close thr third round at $50 million. However, the hopes of raising more might have to be tempered for a while with the economic conditions, and in keeping with that new reality, last week the company cut about 20 employees from its staff of 100.

Founded in 2007, Sezmi raised $17.5 million in its first round from Morganthaler Ventures, Omni Capital, and others, but no word on how much the second round was. The new round is from the previous investors, and likely others as well. For more about the company’s service, read our earlier post about its official launch here. The company recently completed a technical trial in Seattle with three broadcasters and plans to launch its service in the first half of 2009, delaying it from its earlier planned launch late this year.