ExtendMedia has confirmed with us that it has raised $10 million in Series C funding from previous backers TVM Capital, Atlas Venture and Venrock Associates, as was reported this morning by peHUB based on a regulatory filing. The Newton, Mass.-based company powers consumer video services for customers including media companies and consumer electronics makers.
ExtendMedia has secured some high-profile deals, but they haven’t necessarily gone all that well. It helped power SanDisk’s TakeTV and Fanfare PC-to-TV content service, which shut down just eight months after launch. It was also behind last year’s problematic release of NBC Direct, the network’s video download software that sucked up users’ PC resources. But it’s also the chosen media delivery partner for AT&T’s new CDN effort.
ExtendMedia CEO Keith Kocho attested in a phone call today that the economic downturn has not negatively affected his company — he said he actually expects harder times will be a good thing for ExtendMedia, in that it will help lessen the competition. While claiming you’re exempt from a market this bad doesn’t sound particularly tenable, it’s true that Kocho was able to raise $10 million in the current climate. However, that’s less than ExtendMedia raised in its $12 million Series B round in April of last year. The company’s total funding amounts to
$23 Update: $33 million. It has approximately 50 employees, and it released a new version of its platform earlier this month.
peHUB also reported that KZO Innovations, a streaming video provider whose web site is incredibly obtuse, has secured $1.68 million of a $2.08 million Series A round led by Valhalla Partners.