Sunday, August 6, 2006

Maven Raises $12 Million for Broadband TV Platform

Maven Networks, a start-up based in Cambridge, Mass., raised $12 million in Series C funding for its platform for creating, managing and delivering broadband video channels.

Maven Network's Maven Media System (MMS) enables media companies to design and launch professional broadband video channels, and generate new revenue streams. The Maven Media System has been used by customers such as 20th Century Fox, A&E Television Networks International, Disney Buena Vista Pictures, Hallmark Channel, National Geographic Channel, Pepsi, Nike, and Sony Pictures.

The funding was led by Prism Venture Partners of Westwood, MA. The funding round includes participation from existing investors Palo Alto-based Accel Partners and General Catalyst Partners of Cambridge, MA, and brings the total amount of financing to $30 million.