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Entone Raises $14.5M To Support Business Growth
Coral Capital Management Joins Menlo Ventures
and Scale Venture Partners As Entone Investors and Board Members
August 1, 2008
San Mateo, California, August 1, 2008 – Entone, Inc., the IPTV
Connected Home Company, today 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."
About Entone, Inc.
Entone is the leading innovator of IPTV home connectivity solutions.
Initially established in 1999 by the team that deployed the world's
first commercial IP telco video service, Entone's proven technology
enables service providers to reliably deliver integrated video
and broadband services using existing in-home networks. Entone
has worked with a number of the world's leading video service
operators and is recognized for its practical focus on improving
the business case for video services by offering products that
address key CAPEX and OPEX issues commonly associated with deploying
IP video services. Entone is a privately held company with headquarters
in California and offices in Hong Kong. For more information
about Entone Technologies, go to http://www.entone.com.
About Coral Capital Management
Coral Capital is a leading venture capital firm with an investment
focus on late stage high growth technology companies. Coral partners
with entrepreneurs in the communications, software, enterprise
computing and media sectors to build global market leaders. Over
the past 20 years, the principals have invested in over 100 companies
contributing to their growth through direct involvement with
company management and boards of directors using Coral's deep
operational experience and broad international relationships.
For more information about Coral Capital Management, go to http://www.coralcm.com.
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