Synacor Closes New Round Of Funding; Expands Partner Network

Feb 13, 2004

Synacor, a provider of technology supporting the delivery of bundled online services, has closed a new round of financing from Advantage Capital Partners and formalized agreements to partner with online subscription services for delivery in Synacor's platform, Portelus. Advantage, a certified capital company under the state's CAPCO program, which increases venture capital available to small businesses, joins an investor syndicate including Access Technology Capital, LLC, Rand Capital, Walden International Investment Group, and Crystal Venture Capital. Synacor's software platform, Portelus, is designed to enable all partnered online services to be bundled, delivered, and billed directly to an ISP's customer, without the submission of additional personal or credit card information. The company will use the new funding to continue the strategic expansion of its customer base to larger MSOs and telephone companies looking to leverage the growing market for paid premium content and services.  

Synacor's 19 new partners join Synacor's existing roster of services from Walt Disney Internet Group, FOX Sports, CinemaNow, and Experian Consumer Direct. These new partners include American Greetings, Encyclopaedia Britannica Online, and National Hockey League: NHL Highlight Machine and NHL Game Notes,, Shockwave GameBlast, Sporting News Fantasy Sports,, children's educational products from Clever Island,, MusicNet, MusicNow,,, STATS Inc.,,, and Freedom Security products from Zero-Knowledge.