Blackwave
Closes $7 Million Series C Investment
Funding
to expand worldwide growth of Internet video storage and delivery company
Acton,
MA – September 30, 2009– Blackwave, an innovator in Internet
video storage and delivery infrastructure, today announced its
successful completion of a $7M series C investment, bringing its total venture
and strategic capital funding to more than $29M. This latest funding includes
continued investment by Globespan Capital Partners, Flybridge Capital Partners
and Sigma Partners. The company will
use the capital to fund its ongoing domestic and international sales and
marketing expansion.
BlackwaveÕs integrated storage and delivery platform –
the Blackwave R6 – allows Content Delivery Networks (CDNs), telcos,
wireless network operators, content publishers and video aggregators to store
and deliver video in multiple protocols from a single platform. This integrated
infrastructure significantly lowers the capital and operational costs
associated with high-quality IP video delivery to a large, concurrent audience.
With this round of funding, Blackwave will expand its sales force
internationally to respond to increased demand for its systems.
ÒThis renewed investment, combined with the ongoing
acquisition of a range of new customers and partners, signals the marketÕs
great confidence in our technology and our value proposition,Ó said Bob Rizika,
BlackwaveÕs CEO.
A single rack of BlackwaveÕs system enables storage and
delivery of video and rich media via HTTP, Flash Media Server (FMS), and
Windows Media Server (WMS) at a useable bandwidth of 30Gbps. This density, when
combined with the systemÕs ease of installation, integration and management,
results in a significant decrease in the capital expense and ongoing operating
expense associated with building and scaling an IP video delivery solution.
One recently closed
Blackwave customer will decrease its storage and delivery infrastructure from
20 racks of commercial equipment to two Blackwave system racks, dramatically
lowering its ongoing operational expense while increasing its aggregate delivery capacity.
Another customer, faced with the challenge of system expansion, chose Blackwave
over an internally built solution. The company projects lowering expansion costs
by 70% by enabling the customer to reduce its rack system needs from seven to
one.
ÒOur due diligence process left us with great confidence in
Blackwave,Ó said Jonathan Seelig, Managing Director of Globespan Capital
Partners. ÒAfter close analysis and discussion with an array of their
customers, we believe Blackwave meets the marketÕs need for intelligent,
scalable, high-performance video delivery infrastructure. We look forward to
their continued success.Ó
About Blackwave
Blackwave builds storage and delivery
infrastructure specifically designed to meet the unique requirements of
Internet Video distribution. Integrating intelligent software with standard
industry hardware, Blackwave Systems dramatically reduce the cost per video
streamed or downloaded, increasing the profitability of video distribution for
content owners and their delivery partners. For more information, please visit http://www.blackwave.tv/
Press Contact:
Andrew Grant
Blackwave
(617) 821-4420