Published: December 09, 2011
CiiNOW Raises $13 Million in Funding for Cross-Platform Cloud Compute Application Delivery System
MOUNTAIN VIEW, Calif. - (BUSINESS WIRE) - CiiNOW, a leading cloud compute platform developer, today announced it
has raised $13 million in Series-A funding from Foundation Capital,
Alcatel-Lucent and a third strategic investor. Founded by Internet and
graphics industry veterans, CiiNOW (pronounced see-now) is positioned to
change the way cloud infrastructure is built and how applications are
developed and delivered across a wide variety of consumer devices.
"We raised an aggressive round of funding to accelerate hiring,
engineering and partnership development to meet customer demand," said
Ron Haberman, CEO of CiiNOW, Inc., and a 15-year veteran of Internet
services. "We are also discussing strategic investments with several
partners as we build out the ecosystem our next-generation real time
cloud compute platform."
The delivery of visually-rich applications using the real-time cloud is
gaining rapid support from publishers, retailers and carriers, and the
CiiNOW platform complements existing native and browser based
solutions by optimizing delivery to any connected device.
The CiiNOW platform offers a flexible business model whereby asset
sales, rentals or monthly subscriptions can be offered by targeting
services across all subscriber PCs, mobile, and tablet devices, as well
as any access technology.
"We have been particularly impressed with CiiNOW's patented technology
and believe the company's next-generation platform facilitates the
real-time cloud, and will change the way consumers interact with and
purchase content across multiple devices," said Ashmeet Sidana, general
partner at Foundation Capital and a member of CiiNOW's board of
directors.
Basil Alwan, president of Alcatel-Lucent's IP division, founder of
TiMetra Networks and a member of CiiNOW's Board of Directors said: "In a
global communications industry impacted by a growing number of connected
devices, consumers expect immediate and constant connectivity to
personalized services and applications. The CiiNOW solution can provide
service providers the opportunity to build infrastructure and retail
offerings for next generation cloud services."
About CiiNOW
CiiNOW is a white label cloud platform that enables game publishers,
retailers and carriers to tap into the lucrative $60 billion gaming
market as it rapidly transitions from physical media formats to digital
distribution. The company's HybridGFX technology makes use of the
capabilities of the client devices (PC, STB and tablets/phones) and
transmits compressed graphics commands with overlaid video thereby
reducing required bandwidth while increasing image fidelity and
minimizing datacenter costs. For more information, visit www.ciinow.com.
Team Foundation Capital
Michael Young, 917-522-3503
teamfoundationcapital@accesspr.com
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