RipCode closes $12.5 million funding round

Digital video infrastructure solutions provider RipCode announced the completion of a $12.5 million financing round led by Granite Ventures and bolstered by existing investors Hunt Ventures, El Dorado Ventures, Vesbridge Partners and ATA Ventures. According to RipCode, the capital infusion is earmarked to expand the firm's sales, marketing and product development efforts. RipCode's patent-pending On-Demand and Real-Time Stream Transcoding appliances promise to optimize the consumer viewing experience, reduce operational cost and complexity, and expand revenue opportunities for content providers and network operators alike. The company's mobile video partnerships include deals with MySpace and Millennial Media.

For more on the RipCode financing:
- read this release