Avail Media Inc., a Reston, Va.-based provider of IPTV and other media services to broadband operators, has raised $8 million in additional Series B funding. The round total is now $25 million, including a $17 million first tranche announced back in February. Valhalla Partners was joined on the new infusion by existing backers Columbia Capital, Novak Biddle Venture Partners and Pioneer Ventures. Avail also announced that it has secured an additional $5 million in debt financing from a “strategic investor” and Silicon Valley Bank.
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.
Avail Media is the only company today to deliver a combined MPEG-4 linear TV and Video On Demand (VOD) IPTV solution. Avail Media, the nation's premier provider of content aggregation and IPTV transport services, delivers to its customers a full line-up of live television programming with hundreds of channels, all quality encoded in MPEG-4, IP encapsulated, encrypted, combined with VOD and designed for future value-added services. Avail Media's system has been designed for use by broadband network operators of all types. Whether triple-play, quad-play, or pure video play, Avail Media offers the broadest and deepest set of IPTV services, technologies and solutions available in the marketplace today. For more information, please visit www.availmedia.com.