Widevine has nabbed an additional $15 million in a strategic investment from Liberty Global, a global cable operator, and Samsung Ventures to boost its business for multiplatform digital rights management. The DRM provider is looking to use the funding to expand its ability to offer TV Everywhere-type services.
Widevine’s DRM and adaptive bit-rate technology has been chosen by companies like Sonic Solutions, Blockbuster and Best Buy to distribute and protect video content across the web and on a number of devices. Now Widevine wants to use that technology to cash in on the growing interest in TV Everywhere, through which major content providers and cable companies would make subscription-based, pay TV content available online.
But the bigger opportunity could be making those same services available directly through integrated set-top boxes and other consumer electronics devices. Already, CE manufacturers such as LG Electronics, Samsung and Toshiba are integrating the technology into connected devices like Blu-ray players and HDTVs. And Widevine supports mobile platforms like the iPhone, enabling a whole other set of distribution opportunities.
Widevine’s new funding is a Series D financing round. The company was founded in 1999, but was recapitalized in 2003; since then, it has raised a total of $51.8 million.