Envivio secure $14 million in second round of financing

Envivio Inc, a leading MPEG-4 software company, have announced that they have secured $14 million in their second round of financing.
This round includes participation from corporate investors, Bertelsmann, France Telecom, Intel Capital, and Harbinger Ventures, a venture fund affiliated to Mitac/Synnex group, as well as Asian and European venture funds Credit Lyonnais Venture Capital, Innovacom, Maton, and Paradigm.
Envivio have also created a leading MPEG-4 software solution for the professional media industry. MPEG-4 is the latest ISO International standard for multimedia communication, widely supported by broadband, satellite and cable network operators, corporations, post-production facilities, and content developers.
"We believe in the promise of MPEG-4," said Ralph Eric Kunz, Vice President of Bertelsmann Capital Ventures.
"This investment strengthens Intel's plan to help the industry build the next generation of personalised and protected media services using our PC, server and handheld device architectures," said Tom Gibbs, Director of Solutions Development at Intel Corporation.
"It also helps ensure that media companies will have optimised platforms based on the ISO standard, like Envivio's, for multimedia in the enterprise - to author, serve and display MPEG-4 media."
Envivio also announced that Jonathan Fram has joined the company as CEO. Prior to joining Envivio, Mr Fram was President & CEO of eVoice Inc, now a wholly-owned subsidiary of AOL Time Warner. As President of Net2Phone Inc, Mr Fram took the company public in 1999 and later sold a controlling interest to AT&T. He also was General Manager of the Television, Radio & Media groups at Bloomberg L.P.
Julien Signès, President and CTO of Envivio, said: "We are thrilled that Jonathan has joined our executive team. His extensive business experience completes our goal of adding seasoned management to a company rich in technical expertise and products. As MPEG-4 becomes the standard and Envivio moves forward with solutions in this arena, Jonathan will play a significant role in helping us achieve our growth and revenue objectives."
Envivio also announced the appointment of CK Cheng, President of Harbinger Ventures, and Ralph Eric Kunz, of Bertelsmann Capital Ventures, to Envivio's Board of Directors.
"On-demand media delivery is now a reality," said Jonathan Fram, Envivio's CEO. "MPEG-4 technology, coupled with the rapid increases in global penetration of broadband access in the home, will redefine the way consumers access entertainment media."
The proceeds from this round of financing will be used to further develop Envivio's suite of MPEG-4 products, and expand engineering, marketing and sales channel and customer support capabilities.
Envivio, www.envivio.com
(GMcG)