I am happy to help spread the news that our portfolio company Vuze - the open, high-resolution Internet TV platform formerly known as Azureus – has closed its third round of funding. The $20M financing was led by new investor New Enterprise Associates (NEA) and Mike Ramsay, co-founder of TiVo, is joining the Vuze Board of Directors. We are excited that an industry veteran like Mike also views Vuze as “the most exciting company in the online media space today” and are delighted to welcome a great fund as a new backer.
I have had the privilege of being very close to the company’s development since we became its first investors about 2 years ago, when the company emerged out of the original Azureus open source project. There were three people on the team back then and they were about to get their first office in an incubator in Paris that probably measured 25m2. When I visit the company today at its headquarters in Silicon Valley, the place is buzzing with people and excitement. Having launched the new product earlier this year, the company signed over 100 content partnerships and reached an installed client base of 15million! I am still amazed at the speed of their progress, and it’s definitely an encouragement to any founder to see how quickly a company can make progress when its has an enthusiastic, hard working team. Congrats to the fantastic team at Vuze!