Inlet Scores $10 Million
Inlet Technologies, a Raleigh, N.C. maker of video encoding technology, said it nailed down $10 million in Series C venture financing. Investors include Core Capital Partners, Technology Venture Partners, Telecommunications Development Fund and Capitol Broadcasting Co., which owns WRAL-TV in Raleigh.
The round brings Inlet’s total venture funding to $20.5 million. The company said the round comes after six consecutive quarters of financial growth, a 30 percent increase in the number of employees, and four-fold growth of the customer base over the last year.
The latest round of funding will be used to expand sales and engineering teams in Europe and Asia.