EdgeCast Networks, a start-up based in Los Angeles, has secured $6 million in Series B financing for its rich-media content delivery network (CDN). The new funds will be used to expand EdgeCast’s international reach, scale the network for additional capacity, enhance features, and further develop the company’s sales and marketing operations.
EdgeCast said its global content delivery network is designed for high-performance speed, massive audiences and flash crowds. The company claims significant performance improvements and substantial cost savings over competitors such as Limelight Networks, Akamai and Vitalstream/Internap.
The new funding was led by Steamboat Ventures, a venture capital firm affiliated with The Walt Disney Company. Concurrent with this investment, Scott Hilleboe, Senior Principal of Steamboat Ventures, and Jeffrey Stibel, President of Website Pros, Inc. and former CEO of Web.com, will join EdgeCast’s board of directors. Steamboat will join Series A investors from the Hollywood media community such as Mark Amin, Chairman of CinemaNow as well as Jon Feltheimer, CEO of Lionsgate films. The latest round brings EdgeCast’s total funding to more than $10 million.
