Blackwave raises $7 million

Powering Internet video with scalable solution infrastructure, Blackwave hits Series C funding

Blackwave announced today that it has successfully closed a $7 million round of Series C funding, backed by return investors Globespan Capital Partners, Flybridge Capital Partners and Sigma Partners.

The Massachusett-based company's total funding has now surpassed $29 million. The latest round of funding will enable the company to turn up its marketing domestically as well as internationally. Blackwave will also be increasing its sales staff abroad.

Recognizing the quickly rising importance of fast-streaming and high-quality video on the Web, Blackwave seeks to provide its clients with a scalable, high-performance video delivery infrastructure for Internet video. By using Blackwave R6, Blackwave's first video storage and delivery system, Content Delivery Networks, content publishers and video aggregators alike can host and distribute videos through multiple protocols on one platform.

As an example of the power and efficiency of their product, Blackwave said in a press release that just one rack of their system would be enough to handle distribution of video and other space-consuming media through HTTP, Flash Media Server, and/or Windows Media Server. Not only that, but the system would be able to reach a bandwidth upwards of 30Gbps.

According to Blackwave, Blackwave R6 will help clients reduce huge operational costs generally produced when dealing with huge audiences on the Web.

“This renewed investment, combined with the ongoing acquisition of a range of new customers and partners, signals the market’s great confidence in our technology and our value proposition,” said Bob Rizika, Blackwave’s CEO.

Blackwave R6 was first announced back in June. Now, the company just need to focus its energies (and new funding) towards marketing and distribution of its product to clients. Blackwave sees this latest investment as a sign that the market is ready for what they have to offer.