Popcast Communications, which provides business-to-business streaming media software and services, Tuesday announced that it has received a total of $10.8 million in investment from Intel Capital and Telesystem Ltd.
The cash infusion, in a preferred A round of financing, will allow the privately-held company to broaden the reach of its Webcasting products and services to both businesses and consumers, as well as expand its research and development efforts, Popcast said in a statement.
Other terms of the investment were not disclosed. Intel Capital is the strategic investment arm of chipmaker Intel. Telesystem is a privately-held investment company.
Intel and Popcast are no strangers. In June, the two companies announced an agreement to integrate certain multimedia authoring capabilities of Intel's Easy Web Media software into Popcast's customizable Popcaster software.
Separately, Popcast Monday announced that its personal Webcasting technology has been integrated into Microsoft's Windows Movie Maker, a feature of the software giant's new Windows Millennium Edition operating system aimed at consumers.
Popcast Communications, in Los Angeles, can be reached at 323-462-5335 or at www.popcast.com/.
RELATED LINKS
