ExtendMedia grabs $12M in Series B

Digital content delivery platform developer ExtendMedia announced the close of a $12 million Series B financing round led by TVM Capital. Previous investors Atlas Venture and Venrock Associates also contributed to the current round, which brings ExtendMedia's total venture funding to $23 million. The funding is earmarked to accelerate sales, marketing and product development efforts for both direct-to-consumer and ad-supported digital content businesses.

"Content rights owners and distributors need deep, broad enterprise-class technology and infrastructure in order to bring compelling digital content services to market," said ExtendMedia CEO Jim Geary in a prepared statement. "We're already uniquely capable of meeting the complex requirements of large media companies and wireline and wireless service providers. This capital infusion allows us to accelerate our technology innovation, expand our unique market positioning and, most importantly, help make our customers' businesses even more successful."

For more on the ExtendMedia funding:
- read this release