Newly formed webcaster/animator AtomShockwave closed its latest round of financing, drawing $22.9 million in funding.
The investment group providing the backing includes Shockwave parent Macromedia, Inc., Sequoia Capital, JPMorgan Entertainment Partners, Arts Alliance, Waterview Partners and affiliates and Intel Capital.
Formerly AtomFilms and Shockwave, the merger of the inventive online indie film distributor and Macromedia's animation site is a sign of the troubled times among dot-com entertainment companies. But AtomShockwave is a worldwide content distributor to multiple sources, including cable TV, airlines, Internet and mobile/wireless. British Airways, HBO/Cinemax, Blockbuster.com, Cisneros Television Group, TiVo and Volkswagen are among AtomShockwave's major syndication partners. - Richard Tedesco