Cable Technology Feature Article
Zenverge Raises $11M from Investors
By Ed Silverstein, TMCnet Contributor
Zenverge, a developer of content networking ICs, has raised $11 million from investors. Among those named investors taking part in the funding round for the fabless semiconductor company are DCM (News - Alert), Norwest Venture Partners, Verizon, CID Group and Woodside Fund.
Zenverge will use the money to improve content networking ICs for the growing home media gateway market and meet other needs, such as revenue expansion. The investors hope to see significant return on their investments – given recent and future market trends. Zenverge ICs are used in Tier One operator gateways and media servers, and for cloud infrastructure applications.
"This financing is further validation of Zenverge's strategy to empower operators with best of breed solutions through collaboration with other eco-system leaders," Zenverge CEO Amir Mobini said in a statement. "Operators are increasingly interested in advanced, cost effective content networking solutions that help them differentiate their offerings."
Zenverge ICs provide pay-TV applications and services, and TV Everywhere. It provides streaming of live and recorded TV content to tablets, smartphones, game consoles and streaming clients, wireless TV and DVR storage. Zenverge develops advanced content networking ICs built around ZEN architecture. Its technology is used for pay-TV service providers and manufacturers of Gateways, Media Streamers, TVs, Blu-Ray players and MediaNAS devices.
"Zenverge has demonstrated their technology leadership through their quality design wins with tier one operators and OEMs," Carl Amdahl, general partner at DCM, added in the statement.
"We are excited about Zenverge's tremendous revenue growth potential," Robert Abbott, general partner at Norwest Venture Partners, continued in the statement. "This financing further validates the company's vision while helping achieve its revenue growth and product portfolio objectives."
The move comes after a year of significant company announcements. In June, the company announced it was developing the first RDK transcoder plugin. The ZN200 provides many features including live, streaming HD video to four tablets or smartphones over Wi-Fi. In addition, it can download DVR content to tablets or smartphones four times quicker than in real-time.
"We are excited to support the unique, flexible nature of the RDK as it simplifies the effort needed to add transcoding to next generation gateways and set-top boxes,” Zenverge CTO Tony Masterson, said in a June statement. “We look forward to bringing new innovations in multiscreen streaming in support of the RDK community."
Also, last year Zenverge became a member of the Global Semiconductor Alliance (GSA (News - Alert)). “The contribution the organization provides to the semiconductor industry is invaluable," Mobini said in a statement.
Edited by Cassandra Tucker