Vuze Receives $20-Million Financial Injection

PALO ALTO, December 19: The IPTV platform Vuze has secured
$20 million in its round C financing, led by New Enterprise Associates (NEA),
with existing investors Redpoint Ventures, Greycroft Partners, BV Capital and
Jarl Mohn also participating.

Mike Ramsay, the co-founder and former CEO of TiVo who is
now a venture partner at NEA, is joining the IPTV platform’s Board of
Directors. “In my view, Vuze is the most exciting company in the online media
space today and is leading the charge to create a truly compelling Internet
entertainment experience,” said Ramsay. "Further, with the fastest growth
of any online media company, the team has proven they can set aggressive goals
and beat them. NEA is very excited to support Vuze’s goals and anticipates its
major impact in the global entertainment space going forward.”

The platform launched in January of this year and has since
signed up more than 100 content partnerships, among them AETN International,
PBS and the BBC. According to Gilles BianRosa, the CEO of Vuze, “This funding
round will enable us to capitalize on the significant consumer adoption of our
platform in the U.S. and Europe, to continue to enhance our innovative product,
and to further engage our loyal and passionate global user base, all while
remaining true to our vision of an open, global platform for immersive
high-quality entertainment.”

Vuze has also announced additions to its management team.
Jim Diaz joins as senior VP of advertising sales. Rick Phillips is taking on
the role of senior VP of content from a stint at Microsoft’s Entertainment
& Devices Division. John Fernandes is VP of marketing and Jay Monahan has
been named general counsel.

—By Mansha Daswani