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CHAINCAST NETWORKS SECURES $US4MLN FINANCING.
(Full text of a statement. Contact details below.)
SAN JOSE, Calif., April 1 PRNewswire-FirstCall-AsiaNet - ChainCast Networks, a pioneer of cost-effective streaming solutions for media groups, audio & video webcasters, Internet infrastructure companies, and corporate enterprises today announced that the company has secured $US4 million in its Series C Round of Financing.
This funding will be used to launch new services and software products for enterprise audio-video streaming.
GIC Special Investments is among the return investors in this round.
In the previous Series B round of financing, ChainCast raised a total of $15 million, with GIC Special Investments as the lead.
According to Mr. Ng Wai Meng, Sr. Vice President, GIC Special Investments: "ChainCast has established itself as a leading provider of content delivery services in the Internet audio streaming space.
"Notwithstanding the difficult market conditions in 2001, it has continued to gain market share and new paying customers in the US, and is well-positioned in Asian markets like Japan and China. ChainCast offers North American media groups cost-effective access to audiences well-beyond their traditional markets."
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Source: HighBeam Research, CHAINCAST NETWORKS SECURES $US4MLN FINANCING.