06.02.2009 02:30 PM
Grab Networks Scores $12 Million Financing Round
DULLES, VA: Online content manager Grab Networks closed a $12 million round of funding this week. The company was formed of a merger of Anystream and Voxant last September. It serves up video from and for ABC, CBS, NBC, the BBC and several other news, entertainment and information sources.
The $12 million represents a mix of debt and equity funding from existing investors, which include Softbank Capital, SCP Capital, Longworth Venture Partners, and Court Square Partners. Horizon Technology Finance joined in to lead the venture debt portion of the round.
Grab Networks said it combines software, distribution and content into a single solution for online video distribution and revenue generation, using a scalable syndication license. Grab has more than 700 clients. – Deborah D. McAdams