Rare Leads $9 Million Investment Round in StreamSearch
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Rare Ventures has invested $4 million in StreamSearch.com, adding to contributions by two other venture capital investors, Brentwood Ventures and Advantage Capital, totalling a $9 million round of funding.
"The investment in StreamSearch.com has great synergies with our current portfolio of companies in streaming media," said Glenn S. Meyers, president, chairman and chief executive officer of Rare Medium Group Inc., Rare Ventures' parent company. "This investment also adds value to StreamSearch with our broadband competency center in San Francisco."
"RareVenture's investment allows us to create a scalable technology platform to support unlimited traffic on our site, round out our management team and create a super star board of directors that will take us to the next stage of growth and bring in high level, strategic investors," said Rob Shambro, founder and chief executive officer of StreamSearch.
According to Meyers, Rare Medium is making big plays in streaming media and broad band, providing development services for a diverse set of Internet companies. Rare Medium Group's broad multimedia strategy includes investments in www.liveuniverse.com, www.iface.com, www.changemusic.com, www.atomicpop.com and, www.regards.com. Leveraging knowledge of Internet business and access to proprietary deal flow through relationships with its clients, top-tier venture capital firms and Apollo, Rare Ventures has invested in other Internet companies including: L90, iParty.com, and SmartOnline.com, which have agreements with Rare Medium's Internet Solutions arm in excess of $10 million.