Columbia Capital, Novak Biddle, Pioneer and Valhalla Invest $25 Million
Total in Leading IPTV Provider
RESTON, Va., Nov. 29 /PRNewswire/ -- Avail Media, Inc., a provider of
IPTV and advanced media services to broadband operators, today announced it
has closed the final tranche of a $25 million Series B equity round. First
time investor Valhalla Partners joined Columbia Capital, Novak Biddle
Venture Partners, and Pioneer Ventures in the round.
The financing, along with $5 million in debt financing from a strategic
investor and Silicon Valley Bank, brings the total capital raised this year
to $30 million, which will provide Avail Media with sufficient resources to
execute on its vision, create value-added services, and effectively
position its customers for success in the market.
"Having built out its corporate and technological infrastructures,
Avail Media has made significant strides in supporting its expanding
customer base. Avail's ability to bring telecom, cable, and Internet
service providers cost- effective, customizable IPTV technology quickly and
seamlessly is unmatched in this emerging space. There is tremendous market
opportunity here and under the direction of its experienced, highly
respected management team, Avail is well positioned to be a key player in
the industry," said Art Marks, general partner, Valhalla Partners and Avail
Media new board member.
Led by CEO Ramu Potarazu, former CEO of Broadstream Communications and
COO of Intelsat, Avail Media provides managed content services and
technologies through a fully integrated head end infrastructure for the
profitable deployment of IP video. Avail offers providers an ease of
execution and a speed to market beyond any possible self-built system by
continually adding new features and functionalities to its service
offerings.
"We've made some significant advances this year which indicate that
2008 will be a year of continued expansion and productivity for us. First,
our customer installation rate is already exceeding expectations. Second,
because we operate the only MPEG 4 linear and video on demand (VOD)
platform, we have an excellent foundation upon which to build value added
services," said Ramu Potarazu, CEO, Avail Media. "Valhalla brings
additional industry and operating experience as well as critical resources
within their team which will be valuable during this growth phase,"
Potarazu added.
Avail Media was founded in early 2007 as the result of the merger
between Auroras Entertainment and Broadstream Communications. In September
2007 Avail acquired VOD programming supplier ViewNow, giving Avail the
distinction of having the only full end-to-end solution with VOD and linear
capabilities.
About Avail Media, Inc.
Founded in early 2007, Avail Media is the emerging leader in providing
managed content services and technologies delivered through a fully
integrated head end infrastructure, for the profitable deployment of IP
video. Through a combination of best-of-breed technologies Avail Media
offers a complete end- to-end platform to serve a broad array of customers.
Avail Media possesses a large content rights library of over 300 channels
from national programmers, including premier content from programmers such
as ABC-Disney, Turner, NBC- Universal, MTV Networks, Fox Networks,
Discovery, and many others. Avail Media now offers the broadest and deepest
set of services, technologies and solutions among its competitors. For more
information, please visit http://www.availmedia.net.
SOURCE Avail Media, Inc.
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Related links:
http://www.availmedia.net
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