Move Networks Rasies C Round Totaling $67.9, Not $91.3 Million
Move Networks announced today that it has raised $46 million in a Series C round led by Benchmark Capital which includes Cisco and Comcast and Televisa, as well as previous investors Steamboat Ventures and Hummer Winblad Venture Partners.
While many sites, including TechCrunch, are reporting that Move Networks has raised $91.3 million to date, some bloggers are doing the wrong math. Move raised $11.3 million in 06′, $10.0 million in 07′ and $46 million in 08′. While many announced that Move had raised $34 million back in Q4 of 2007, this was not the case. Move raised no money in Q4 of last year.
The $67.9 million is still a large number, but a lot less than over $90 million. Move is an interesting company to watch. Last month I had the opportunity to sit down with Move’s CEO John Edwards and was able to get a really great insight into their current business and details on what Move is working on with Microsoft. There are some really interesting things that Move is thinking about in terms of where content delivery is going, how to scale it and what the broadcasters are going to require. We should see some very interesting announcements from Move later in the year.