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Omneon gets Funding , Partner

By BroadCasting & Cable Staff -- Broadcasting & Cable, 12/17/2000 7:00:00 PM

Video- and streaming-server manufacturer Omneon Video Networks has raised $24.8 million from its third round of financing, bringing its total backing to $57 million. The round, led by venture-capital group Meritech Capital Partners, included new Omneon investors Chase H & Q, Intel Communications Fund, Palo Alto Investors, and Thomas Weisel Partners. Previous investors are Accel Partners, Mayfield Fund, Norwest Venture Partners, Lucent Venture Partners, and The Ignite Group. Omneon has also teamed with automation-software supplier Sundance Digital to create a turnkey single-channel playback system that bundles Sundance's FastBreak NT Spot Playback System software with Omneon's Video Area Network hardware. The entry-level commercial-insertion system will sell for less than $80,000.

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