Zenverge Closes $11M Round of Financing Industry Leading Content Networking IC Supplier Poised for Product Portfolio and Revenue Expansion
SANTA CLARA, Calif., Dec. 10, 2013 /PRNewswire/ -- Zenverge, Inc., a leading developer of content networking ICs, today announced that it has closed an $11M round of financing led by a key strategic partner along with participation from Zenverge's existing investors DCM, Norwest Venture Partners, Verizon, CID Group, and Woodside Fund. Zenverge will use the funds to enhance its portfolio of industry leading content networking ICs for the rapidly growing home media gateway market, and to support steep revenue ramp.
Zenverge ICs are widely deployed in tier one operator gateways and media servers as well as in cloud infrastructure applications. Zenverge ICs, powered by its TransALL™ technology, enable a wide variety of pay-TV applications and services, providing a ubiquitous TV Everywhere experience for consumers. These include streaming of live and recorded content to tablets, smartphones, game consoles and streaming clients, seamless wireless TV, and optimized DVR storage.
"This financing is further validation of Zenverge's strategy to empower operators with best of breed solutions through collaboration with other eco-system leaders," said Zenverge CEO, Amir Mobini. "Operators are increasingly interested in advanced, cost effective content networking solutions that help them differentiate their offerings."
"Zenverge has demonstrated their technology leadership through their quality design wins with tier one operators and OEMs," said Carl Amdahl, General Partner at DCM. "We are pleased to welcome another key strategic partner to the list of Zenverge investors."
"We are excited about Zenverge's tremendous revenue growth potential," said Robert Abbott, General Partner at Norwest Venture Partners. "This financing further validates the company's vision while helping achieve its revenue growth and product portfolio objectives."
Zenverge is a fabless semiconductor company devoted to accelerating consumer access to next generation digital content and services. The company is a leading developer of advanced content networking ICs built around the patented ZEN architecture, a core technology for next generation digital media devices. The company is based in Santa Clara, California. For more information please visit the company website: www.zenverge.com.
SOURCE Zenverge, Inc.