Internet software company Boxee TV Ltd. has raised $6 million in a financing round led by Boston based General Catalyst and with the participation of previous investors Spark Capital and Union Square Ventures. General Catalyst's partner Neil Sequeira will now join Boxee's board.
Boxee has to date raised $12 million including the current round.
Boxee was founded in 2007 by CEO Avner Ronen, who also set up the immediate messaging company Odigo-Messenger that was sold to Comverse Technology Inc. (Nasdaq:CMVT) for about $17 million. Boxee's other founders are product manager Idan Cohen, VP business development Gidon Coussin, Tom Sella and Roy Vulcan.
The company develops media center software based on an open code. The software enables users to control media programs stored in the PC, or the Internet domain and bring them to the TV. Boxee strives to improve the way people consume media and present them with a new consumer experience.
Boxee said on its blog, "General Catalyst brings more than just money to the table. We wanted a partner to help us as we strengthen our relationships with big media and cable companies. As we learned (the hard way), it is a complicated world. Neil and General Catalyst as a firm have years of experience, deep understanding, and extensive network in these industries, and we are looking forward to working together with them."
Published by Globes [online], Israel business news - www.globes-online.com - on August 13, 2009
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