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Nokeena grabs $6.5M more
Nokeena, a technology company attempting to lower the cost of online video delivery, announced it has raised $6.5 million in additional venture funding led by Mayfield Fund. Previous investors participated in the round as well, bringing the total funding for Nokeena to $15 million.
The company said it plans to use the funds to scale marketing and sales operations.
"The additional financing marks a significant milestone as we enter the next phase of company growth," said Rajan Raghavan, co-founder and CEO, Nokeena, in a statement. "We are honored now to add Mayfield Fund to our prestigious group of blue-chip investors and look forward to leveraging their expertise in the online video market. Our ability to complete this investment in the current economic environment underscores the immediate and prospective value we are delivering to our customers and partners."
Navin Chaddha, managing director of Mayfield Fund, said in the statement that Nokeena has three advantages in the market that warranted the investment; a world-class team, a large market opportunity, and an innovative solution to capture share.
For more:
- see the press release here
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Comments
Posted by preetam mukherjee | September 16, 2009 - 11:06am
This is sweet news. We've checked out their platform, and they're a fantastic version of Move Networks.
There is significant reliability in their adaptive bandwidth delivery, and the fact that they serve video without requiring you to download a plugin...is AWESOME.
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