Omneon Video secures new funding

November 22, 2002

Continuing to invest considerable R&D money in its video server technology, Omneon Video Networks has received $12.5 million in financing from several existing investors and one new one. Including this new capital infusion, Omneon has now raised nearly $70 million of venture capital and corporate funding since the company was founded in May 1998.

Along with incumbent investors Accel Partners, Norwest Venture Partners, Meritech, Intel Communications Fund and Lucent Venture Partners, the money is also coming from a new investor, Advanced Technology Ventures (ATV), a venture capital firm focused on investments in communications, Internet infrastructure, software and services and healthcare.

Omneon’s U.S.-based customers include numerous member stations in the Public Broadcasting Service, Equity Broadcasting, and other commercial stations that need to produce content more effectively and manage multiple distribution channels.

Comprised of modular server, storage and interface components, Omneon's Media Server System provides an open architecture and data-type independent platform that allows a truly scalable, multi-user environment from a common server. This allows facilities to add new revenue generating services - new program channels, video-on-demand and HDTV - without having to build separate infrastructures for each new service.

For more information visit www.omneon.com.

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