Verimatrix closes another round of funding

Verimatrix, the pay-TV content security vendor, has closed Series C round of funding. The company is not disclosing the amount. The total amount from prior rounds adds up to $23m, which includes $2m in angel investments that were not announced. Sources suggest the investment is in the region of $7 million with post-money company valuation of $90 million. The vendor has sold 5 million product licenses that include IPTV set-tops and PC clients. This number is obviously a little ahead of live subscriber numbers. Verimatrix had its first deployment in 2003 at Korea Telecom. It has an impressive list of tier ones IPTV customers including NTT, Belgacom, KPN, Tele2/Versatel, Telecom Italia and TeliaSonera. In total the company has 150 global IPTV service provider customers in 32 counties, which according to the vendor will double in... [read full story]