(WEB HOST INDUSTRY REVIEW) — Internet video storage and delivery infrastructure developer Blackwave (www.blackwave.tv) has announced its successful completion of a $7M series C investment, bringing its total venture and strategic capital funding to more than $29M to fuel the worldwide growth of its online video storage and delivery.
According to its Wednesday announcement, Blackwave will use the capital to fund its ongoing domestic and international sales and marketing expansion to respond to increased demand for its systems. This latest funding includes continued investment by Globespan Capital Partners, Flybridge Capital Partners and Sigma Partners.
“This renewed investment, combined with the ongoing acquisition of a range of new customers and partners, signals the market’s great confidence in our technology and our value proposition,” Blackwave chief executive officer Bob Rizika said in a statement.
Blackwave’s integrated storage and delivery platform, the Blackwave R6, lets content delivery networks, telcos, wireless network operators, content publishers and video aggregators 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.
“Our due diligence process left us with great confidence in Blackwave,” Globespan Capital Partners managing director Jonathan Seelig said in a statement. “After close analysis and discussion with an array of their customers, we believe Blackwave meets the market’s need for intelligent, scalable, high-performance video delivery infrastructure. We look forward to their continued success.”
A single rack of Blackwave’s system enables storage and delivery of video and rich media via HTTP, Flash Media Server, and Windows Media Server at a usable bandwidth of 30Gbps. Combined with its ease of installation, integration and management, Blackwave R6 results in a significant decrease in costs associated with building and scaling an IP video delivery solution.
