Thursday, December 7, 2006

Move Networks Gets Investments From Steamboat, Hummer Winblad

American Fork, Utah-based Move Networks has quietly raised venture capital funding from Disney's Steamboat Ventures and Bay Area firm Hummer Winblad Venture Partners. The addition of Hummer Winblad occurred in November. Move is developing infrastructure for reliably moving video over the Internet, and according to one of the firm's venture backers has been delivering online video for companies like MySpace/Fox and others. Novell founder Drew Major is Chief Scientist of Move Networks. Move has not yet announced the funding round, which as of October was still in progress, although both Steamboat and Hummer Winblad now include the firm on their online portfolios. More information »