Tuesday, October 30, 2007

GridNetworks Gets $9.5M

Seattle-based GridNetworks, a company developing peer-to-peer technology for streaming Internet video, said today that it has raised $9.5M in a Series A funding round. The funding was led by Panorama Capital and two other, undisclosed strategic investors. Gridnetworks said the funding will go to expand development of the firm's core technology and business. GridNetworks is developing a service which uses peer-to-peer client technology which can be used for low-cost distribution of delivery; the firm's technology competes against content delivery networks, and similar offerings from BitTorrent, Move Networks, and others. More information »