FOR IMMEDIATE RELEASE
RGB NETWORKS PRIMED TO EXPAND PRODUCT FAMILY AND
GLOBAL FOOTPRINT FOLLOWING SERIES C FUNDING
Focus Ventures Leads RGB’s Third Round, Joining
Accel Partners, Comcast Interactive Capital, and Kleiner Perkins Caufield & Byers
SAN MATEO, CA – June 21, 2006 – RGB Networks, the leader in network video processing, today announced it has closed its Series C round of funding totaling $20 million, resulting in a company valuation of $110 million – a 150% increase from the previous valuation 18 months ago. The funding was led by new investor Focus Ventures, a Silicon Valley-based firm that provides expansion stage venture capital for leading software, communications, and semiconductor companies. Previous RGB investors Accel Partners, Comcast Interactive Capital, Kleiner Perkins Caufield & Byers, and Mitsui & Company Venture Partners all pro-rated in this latest round, maintaining their level of investment.
“RGB Networks embodies the ideal investment for Focus,” said Steve Bird, general partner of Focus Ventures. “Firmly entrenched in the North American telecommunications sector and already funded by premier, early stage venture capital firms, we believe RGB is poised to make a big impact in the global marketplace.”
As cable, telecom, satellite, portal and mobile operators seek to deliver a new age of interactive and personalized video services, their existing infrastructure is challenged to efficiently deliver the growing range of bandwidth-consuming targeted and on-demand services. RGB Networks is delivering advanced video processing products that maximize operators’ offerings by enabling them to optimize bandwidth without rebuilding their existing networks.
“The demand for personalized video on any video-capable device—TVs, PCs, cell phones and PDAs—is growing in the U.S. and abroad at a feverish pace. As the world embraces these digital video services, RGB’s technology is ideally suited to enable companies to efficiently leverage their existing network infrastructure to meet the growing demand,” said RGB CEO, Jef Graham. “This round of financing will enable us to continue to enhance our portfolio of intelligent video processing products, and to bolster our domestic sales efforts and expand our reach into Asia and Europe.”
RGB’s high density video processing solutions, based on its unique Video Intelligence Architecture™ (VIA), enable cable operators and telcos to create efficient switched digital video networks that effectively manage, scale and deliver advanced services, such as video-on-demand (VOD) and targeted advertising, leveraging high-speed Gigabit Ethernet technology. RGB’s flexible, scalable and modular Simulcast Edge Processor (SEP) and Broadcast Network Processor (BNP) products simplify and expedite deployments of advanced video services, simplify operation and management, and reduce operational and capital costs.
RGB Networks has a strong and experienced board of directors consisting of Jef Graham, Chairman & CEO, RGB Networks; William R. Hearst III, Partner, Kleiner Perkins Caufield & Byers; Gordon L. Stitt, President, CEO & Director, Extreme Networks; Jim Swartz, Partner, Accel Partners; Adam S. Tom, Co-founder and Executive Vice President, Business Development, RGB Networks; Louis A. Toth, Managing Director, Comcast Interactive Capital; and Carl Vogel, Vice Chairman, Echostar Communications.
About Focus Ventures
Focus Ventures is a top-performing venture capital firm that invests in expansion-stage leaders in the software, semiconductor and communications industries. The firm currently manages $825 million, having closed its first fund in October 1997, Focus Ventures II in December 1999 and Focus Ventures III in March 2006. Focus Ventures offers its portfolio companies access to high quality partners in Asia and an extensive network of resources focused specifically on driving top-line revenue growth through customer introductions and by establishing distribution channels, joint ventures and licensing arrangements. Since the firm’s inception, Focus Ventures has invested in 89 companies and has had 20 IPOs and 15 acquisitions by public companies. A select number of portfolio companies that have gone public include: Active Software, Agile Software, Alteon WebSystems, BroadBase Software, Chordiant Software, Commerce One, Copper Mountain Networks, Corio, CoSine Communications, Interwoven, Loudcloud, Niku, Pixelworks, and Verisity. For more information on Focus Ventures visit www.focusventures.com.
About RGB Networks
RGB Networks delivers extremely high-density, flexible video processing solutions that enable video service providers to deliver highly targeted and personalized video content at considerably lower costs than today’s solutions. Based on its unique Video Intelligence Architecture™ (VIA), RGB’s VIA product family simplifies management and delivers scalable, multi-function capability in a single, programmable platform, allowing video service providers to leverage existing infrastructure, while building an advanced foundation to meet the needs of the rapidly growing market for personalized video services.
For more information about RGB Networks, its products and the Video Intelligence Architecture, please visit www.rgbnetworks.com.
# # #
Media Contact:
John Giddings
Mobility Public Relations
(650) 353-4330
jgiddings@mobilitypr.com
|
