Update: We have independently confirmed that BitTorrent has raised $25 million in new VC funding. Accel Partners led the deal, with Accel partner Ping Li expected to take a board seat. Existing backer DCM-Doll Capital Management also participated.
There’s a lot of buzz in the blogosphere about BitTorrent, and the possibility it has raised big bucks from Accel Partners. GigaOM seems to have gotten the scoop, but VentureBeat, TechCrunch and Valleywag also weigh in.
We dug through the filings and found the company raised a $2.26 million round of convertible securities for Series A preferred stock. The document was filed with the SEC at the end of October, but was signed over the summer. The only two investors in the round were DCM-Doll Capital Management and Bram Cohn. That round mini-round may have been used to shore up the founder’s stake or to bridge the company until it could signed on significant Series B. The company raised $8.75 million in September, 2005. That round included DCM, Bram Cohn, his brother Ross Cohn and company president Ashwin Navin.
Does anyone know if BitTorrent VP of Marketing Eric Patterson…
is related to Accel Partner Arthur Patterson:
I put in a call to Accel to try to find out, but haven’t heard back yet.