August 1, 2008

Entone Raises $14.5M for Growth

Entone announced a new round of $14.5M in venture funding. The Series B round was led by Coral Capital Management and includes existing investors Menlo Ventures and Scale Venture Partners. The funds will be used to support Entone’s rapidly growing business and expanding product portfolio in support of global telecom operators providing IPTV and Broadband TV services.

“Today’s IPTV services have enjoyed tremendous growth. With over 25 telecom operators choosing the Entone video gateway solution, Entone has emerged as a clear market leader,” said Chris Smith, Director of Coral Capital Management and new Entone board member. “We are especially excited about the Entone product roadmap of media hub solutions developed to enable service operators to offer a new generation of television services that seamlessly blend broadcast television, time-shifted viewing, place-shifted viewing, web-based services, and personal media.”

Entone’s flagship product, the award-winning Hydra IP Video Gateway, eliminates the need for set-top boxes and new home wiring to deliver IPTV services. Adding to Entone’s Connected Home Solution is the company’s next-generation media hub products that take Hydra’s field-proven capabilities to the next level by integrating advanced services such as web-based video, personal content such as photo libraries, and enhanced viewing capabilities such as whole-home DVR and place shifting.

“The market for IPTV services has enjoyed tremendous growth over the past several years, with Entone’s Hydra IP Video Gateway emerging as a market leader in both product innovation and deployment volumes,” said Steve McKay, Entone’s CEO. “This latest investment round strengthens our market leadership position and our ability to support the growth of the business while investing in our very exciting product roadmap. We are very pleased to have Coral join as a new investor.”



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