Thursday, June 22, 2006

Akimbo Raises $15.5 million, Adds Cisco and AT&T as Investors

Akimbo Systems raised $15.5 million in Series C funding for its Internet video-on-demand appliance and service. New investors Cisco Systems AT&T and venture capital firm, Blueprint Ventures, join existing Akimbo investors Draper Fisher Jurvetson, Kleiner Perkins Caufield & Byers, Sprout Group and Zone Ventures.

The Akimbo Service currently offers more than 10,000 videos and movies provided by a global network of approximately 200 mainstream and specialty content partners. Akimbo's video collection spans 100 categories, including genres like independent film, foreign language, anime, sports, children's entertainment, travelogues, lifestyle shows, music programming and video blogs.

Akimbo is accessible through the Online Spotlight area of Microsoft Media Center Edition 2005 PCs and through the company's own Akimbo Player set-top box.

This fall Akimbo and Thomson Corp. will launch the RCA Akimbo Player, a new Internet video-on-demand set-top box for television. The RCA Akimbo Player features the complete Akimbo Service with new release movies from Movielink. Akimbo will also soon be available to subscribers of AT&T's Homezone service, scheduled to launch later this summer. AT&T Homezone subscribers will use their integrated set-top boxes and AT&T Yahoo! High Speed Internet connection to access thousands of video programs and movies, in addition to television programming over satellite from AT&T/DISH Network.

A monthly subscription to the Akimbo Service for Media Center or for the Akimbo Player is $9.99 a month. Sign up for a free trial through the Online Spotlight area of Microsoft Media Center.

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