Edgecast Networks Secures $6 Million

Dec 11, 2007

EdgeCast Networks, a rich media content delivery network (CDN), announced that it has secured $6 million in Series B financing led by Steamboat Ventures, a venture capital firm affiliated with The Walt Disney Company. Concurrent with this investment, Scott Hilleboe, Senior Principal of Steamboat Ventures, and Jeffrey Stibel, President of Website Pros, Inc. and former CEO of Web.com, will join EdgeCast's board of directors. Steamboat will join Series A investors from the Hollywood media community such as Mark Amin, Chairman of CinemaNow, as well as Jon Feltheimer, CEO of Lionsgate films. The new funds will be used to expand EdgeCast's international reach, scale the network for additional capacity, enhance features, and further develop the company's sales and marketing operations. The latest round brings EdgeCast's total funding to more than $10 million.

(www.edgecast.com, www.steamboatvc.com)