IPTV platform Verismo Networks lands $17 million in VC from Intel Capital

Verismo Networks, which two years ago rolled out technology that streamed Web content including YouTube, Amazon and BitTorrent, to a TV without a PC, has landed $17 million in venture capital from Intel Capital, as well as its existing investors.

The Mountain View, California-based company said the money will be used to accelerate the growth of its recently released VuNow Internet TV platform, which allows MSO's, ISPs and telcos to bring linear channels combined with value-added interet services like VoIP and social networking applications over the Internet to their existing subscribers. Verismo also enables service providers the ability to easily deploy their services to green field markets outside their existing footprint, offering new content and services anywhere, anytime.

"Service providers have been struggling to meet new consumer demands of content anywhere, anytime," said Prakash Bhalerao, President and CEO of Verismo Networks. "Our platform enables these providers the ability to deliver triple-play services profitably and cost effectively to their subscribers anywhere, anytime, on and off their network."

Verismo's platform uses the Internet as a distribution method, allowing service providers to rapidly expand their existing footprint and reach new global markets with minimal investment in their infrastructure, and that's one of the reason Intel decided to invest.

"Verismo's platform opens up the market to new and emerging service providers, enabling them to deliver rich content and services to new customers worldwide," said Curt Nichols, managing director, Intel Capital. "Companies such as Verismo are paving the way to the new future of TV."

For more:
- see this release

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