Cisco Systems has become a strategic investor in GridNetworks. In total, GridNetworks raised a total of $9.5 million in its Series A financing.
GridNetworks streams television and film content in HD quality to computer or television screens via the Internet. The company model is based on a hybrid set of technologies that deliver video to multiple platforms within the home on the TV, PC or other devices. It utilises peer-to-peer distribution on the web.
“By combining scalability with meaningful reporting and analytics we’re enabling credible Internet television business models for the first time in the industry. We intend to make Internet television profitable for the entertainment industry, and for network operators, once and for all,” said Tony Naughtin, President and CEO of GridNetworks in a prepared statement. “The strategic investment made by Cisco is a great endorsement of our ambitions to unlock the potential of Internet television for media owners, advertisers, and service providers by delivering a consistently great user experience.”