Modulus Video secures new funding, names new chairman/CEO
April 12, 2004
Sensing the need for a robust compression platform to handle the multitude of high-definition content that is now becoming available, Modulus Video has accelerated its work with MPEG-4 technology, supported by $8.5 million in new capital funding. The company has also tapped industry veteran Bob Wilson to move it forward as its new chairman/CEO.
The Sunnyvale, Calif.-based startup was founded in January 2003 by ex-Divicom and SkyStream Networks personnel. The company uses MPEG-4 AVC software-based compression coding and LSI chip technology in an SD/HD real-time encoding and decoding platform that will be demonstrated at NAB2004. The company said its next-generation of video compression solutions would make it easy and affordable for service providers to increase their channel capacity by upgrading encoders from MPEG-2 to H.264/MPEG-4 AVC.
Modulus Video has closed an $8.5 million Series A financing led by Trinity Ventures. Joining the Modulus board of directors from Trinity Ventures are Gus Tai, general partner, and Alex Osadzinski, venture partner.
Modulus was founded by entrepreneurs and broadcast industry veterans Jean Dumouchel, Mark Magee, Rob Robinett and Raj Sandhu. The founding leadership team also includes broadcast industry veteran Bob Natwick (formerly of TANDBERG Television and Divicom), vice president of sales, and Rob Robinett, chief technology officer. Robinett was co-founder and founding president of SkyStream Networks, a provider of IP video delivery systems.
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