Move Nets $46 Million

Move Networks Inc., an American Fork, Utah-based provider of video-over-IP solutions, has raised $46 million in Series C funding. Benchmark Capital led the round, and was joined by Cisco, Comcast Interactive Media, Televisa and return backers Hummer Winblad Venture Partners and Steamboat Ventures.

 

PRESS RELEASE

Move Networks, a leading provider of high definition online television services, today announced a $46 million Series C funding round led by Benchmark Capital that includes global technology leaders Cisco, Comcast Interactive Media (a division of Comcast Corp.), Televisa, as well as previous investors Steamboat Ventures and Hummer Winblad Venture Partners.

“Viewers are demanding higher quality video at anytime and any place. Move's platform provides a solution that maximizes quality while at the same time meeting the demands of scalability and profits,” said John Edwards, CEO of Move Networks. “This funding round is further validation by leading digital new media companies and infrastructure providers that Move Networks has the delivery services uniquely designed to meet the online monetization mandate of the world's largest media companies.”

“The consumer experience is a central component to the future growth of broadband video,” said Ian Blaine, CEO of thePlatform, SVP Content Publishing for Comcast Interactive Media. “Consumers expect online video to mirror their television or DVD experience today. Companies such as Move Networks will play a key role going forward.”

“Rarely have we seen a company take market share at such a dramatic pace in an emerging industry,” said Bill Gurley, general partner at Benchmark Capital. “The key stakeholders of the world's best video content are voting by choosing Move Networks as their online video solution. Move offers a unique and obvious quality advantage compared to other video delivery options. The best brands with the best content want full control of their experience and their advertising relationships. The Move platform is the only choice on the market that optimizes this strategic imperative.”

Move's unique patent-pending technology uses open Internet protocols to deliver high-quality live and on-demand video that easily and cost-effectively scales to millions of viewers while fully protecting the assets of the media company, and giving users the best video viewing experience in the industry.

About Move Networks

Move Networks, Inc. is a leading provider of online television services that drive the growth and support of online audiences for leading broadcasters and publishers including ABC, the CW, Discovery, ESPN, and Fox. The video technologies and services developed and managed by Move Networks enable leading brands to cost-effectively and reliably deliver live and on-demand HD quality programming to millions of people without the buffering, stalling, and low-quality viewing experiences common with competing technologies.