Itiva Networks, the on-line Video Content Delivery Solution for high quality digital assets, today announced the successful completion of the latest capital campaign in the amount of $7 million in private funding. The company will utilize the working capital to expand its growing sales and marketing teams to meet surging customer demand for online high definition video.
"Itiva is poised for tremendous growth as our streaming and download services are now commercially available," said Michel Billard, CEO of Itiva Networks. "The consumption of rich media content streamed in full-screen video over the Internet continues to increase by orders of magnitude yearly. We are well-funded, and with this round we have the resources to actively engage with customers seeking to deliver controlled, high quality video to a mass audience at low cost -- without compromising on quality."
Itiva is the only company with a patent-pending technology that resolves the issues of core network saturation by making clever use of servers, proxies and peers to reliably sustain a cost-effective, high quality rich media experience. Itiva's broad range of rich media delivery services enables content producers to bring to life sharply detailed, eye-catching on-line content such as television shows, movies, video events, animation, music videos, video games, sports, news, and more.
As the company expands its sales and marketing forces, Itiva has also added a stellar line-up of thought leaders to its executive team. Veteran high technology experts Jerry Pierce, Nicholas R. Miller, Max Paley and Richard Archuleta have been appointed to the company's Board of Directors. Pierce is a former senior vice president of technology for Universal Pictures, where he led the launch of DVD for the studio; Miller is a highly seasoned entrepreneur with more than 25 years of leadership starting and managing private and public firms, and who was among the first to identify security threats posed by wireless technology; Paley is vice president of Multimedia for Apple, Inc., where he is responsible for driving graphics, video and audio implementation on all Mac platforms; and Archuleta is a successful technology business leader with 26 years experience, including serving as a former senior vice president and general manager at Hewlett Packard, and who in 1998 was named "Mobile Industry Person of the Year" by Mobile Computing Magazine.
"We are excited about the tremendous changes taking place at Itiva," Billard added. "The Itiva Networks team is highly confident that our significant financial backing ensures that we will meet current market demand and secure long-term success."
About Itiva Networks
Itiva Networks, headquartered in Palo Alto, California, is the first cost- effective Video Content Delivery Network (vCDN). The Itiva Delivery Network is widely scalable and efficient, allowing delivery of DVD or HD quality content to mass audiences in a cost-effective manner. Itiva's Quantum Transport(TM) Technology increases bottom line revenue for leading media companies and enables new business models in the rapidly escalating content delivery market. Itiva's video streaming and download services are now commercially available. For more information, visit www.itiva.com.