We are especially excited about the Entone product roadmap of media hub solutions developed to enable service operators to offer a new generation of television services that seamlessly blend broadcast television, time-shifted viewing, place-shifted viewing, web-based services, and personal media.
San Mateo, California (PRWEB) August 2, 2008
Entone, Inc., the IPTV Connected Home Company, today announced a new round of $14.5M in venture funding. The Series B round was led by Coral Capital Management and includes existing investors Menlo Ventures and Scale Venture Partners. The funds will be used to support Entone's rapidly growing business and expanding product portfolio in support of global telecom operators providing IPTV and Broadband TV services.
"Today's IPTV services have enjoyed tremendous growth. With over 25 telecom operators choosing the Entone video gateway solution, Entone has emerged as a clear market leader," said Chris Smith, Director of Coral Capital Management and new Entone board member. "We are especially excited about the Entone product roadmap of media hub solutions developed to enable service operators to offer a new generation of television services that seamlessly blend broadcast television, time-shifted viewing, place-shifted viewing, web-based services, and personal media."
Entone's flagship product, the award-winning Hydra IP Video Gateway, eliminates the need for set-top boxes and new home wiring to deliver IPTV services. Adding to Entone's Connected Home Solution is the company's next-generation media hub products that take Hydra's field-proven capabilities to the next level by integrating advanced services such as web-based video, personal content such as photo libraries, and enhanced viewing capabilities such as whole-home DVR and place shifting.
"The market for IPTV services has enjoyed tremendous growth over the past several years, with Entone's Hydra IP Video Gateway emerging as a market leader in both product innovation and deployment volumes," said Steve McKay, Entone's CEO. "This latest investment round strengthens our market leadership position and our ability to support the growth of the business while investing in our very exciting product roadmap. We are very pleased to have Coral join as a new investor."
About Entone, Inc.
Entone is the leading innovator of IPTV home connectivity solutions. Initially established in 1999 by the team that deployed the world's first commercial IP telco video service, Entone's proven technology enables service providers to reliably deliver integrated video and broadband services using existing in-home networks. Entone has worked with a number of the world's leading video service operators and is recognized for its practical focus on improving the business case for video services by offering products that address key CAPEX and OPEX issues commonly associated with deploying IP video services. Entone is a privately held company with headquarters in California and offices in Hong Kong. For more information about Entone Inc., go to http://www.entone.com.
About Coral Capital Management
Coral Capital is a leading venture capital firm with an investment focus on late stage high growth technology companies. Coral partners with entrepreneurs in the communications, software, enterprise computing and media sectors to build global market leaders. Over the past 20 years, the principals have invested in over 100 companies contributing to their growth through direct involvement with company management and boards of directors using Coral's deep operational experience and broad international relationships. For more information about Coral Capital Management, go to http://www.coralcm.com.
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