VOD Developer Raises $26 Million in New Capital

VOD technology provider MidStream Technologies has closed a $26 million financing round.

New investors include Canaan Venture Partners, Frazier Technology Ventures, ProVen Private Equity and The University of North Carolina. Prior investors Polaris Venture Partners, ARCH Venture Partners, Xilinx Inc. and Fluke Ventures also participated.

MidStream will use the capital for development of the IP2000 Series of video servers and expand its business development and sales and marketing efforts.

The company's broadcast-quality VOD servers are designed from the ground up to enable cable operators and video service providers to deploy scalable and diverse VOD services, such as SVOD and network-supported personal video recorder functionality over an existing infrastructure.

Key features include:

• Delivers up to 2 Gbps of throughput from one server unit, or over 500 concurrent 3-Mbps streams of content
• Over half of a terabyte of built-in storage
• Field-upgradeable for both hardware and software
• Uses an open platform that integrates with any third-party asset management system, middleware, back-office software, storage and STBs