Verismo Networks, an Internet TV platform, announced that it closed $17 million in financing. Intel Capital led the round with participation from Verismo’s existing seed investors. The company recently announced “VuNow,” an Internet TV platform that allows MSOs, ISPs and Telcos the ability to deliver traditional linear channels combined with value-added internet services such as VoIP and social networking apps over the Internet to their existing subscribers.
Verismo developed a customizable end to end solution for delivering internet videos directly to the TV without the need for a PC. OEM customers are able to take a proven system, add their own content if needed, and participate in a fast growing market.
“Service providers have been struggling to meet new consumer demands of content anywhere, anytime. 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,” said Prakash Bhalerao, President and CEO of Verismo Networks. “This round of funding extends the momentum we’ve achieved and allows us to continue to meet customer demand for our new platform.”
“The service provider industry has begun its foray into the changing new world of diversified and on-demand entertainment. We are excited about the breadth of Verismo’s technology offering and their ability to integrate multi-tiered and multiple services for their customers with existing infrastructure,” said Curt Nichols, managing director, Intel Capital. “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. Companies such as Verismo are paving the way to the new future of TV.”