Fliqz Investors Take a Bath

Fliqz’s investors took a loss when the California-based plug-and-play video solution provider was sold in a private foreclosure to video streaming company VBrick earlier this month, multiple sources confirmed to peHUB.com.

Two sources confirmed the company was sold for less than its three rounds of funding. One of the sources acknowledged the sale process, run through Lighthouse Capital Partners, only attracted $1.4 million from VBrick, which acquired “substantially all” of Fliqz’s assets.

Fliqz will be integrated into VBrick’s VBoss, its streaming service, as it continues to serve organizations presenting live and on-demand video.

peHUB confirmed with Lighthouse, which provides growth capital and financing products to venture clients, that the firm was involved with the transfer of Fliqz’s assets. From 2006 to 2009, the company attracted between $9 million and $12 million, according to various reports. Investors included Mohr Davidow Ventures, Wilson Sonsini, Caufield Angel Fund and Triangle Peak Partners. Fliqz’s most recent fundraising came more than two years ago in early 2009. Compared to two Fliqz competitors—Ooyala and Brightcove (each of which has done substantially more fundraising than the newly-acquired VBrick asset)—the company wasn’t successfully competing with either of the two larger companies for VC funding.

Mohr Davidow, vBrick and Fliqz did not respond to requests seeking comment.