RealTime IT News

FastForward Rakes In $30 Million

FastForward Networks Monday secured $30 million in a mezzanine round of funding.

FastForward will use the money to build out its organization to meet the needs of the content distribution marketplace, and to move its networking platform for Internet broadcasting service providers from industry trials and limited deployments to volume production.

The investment round was led by Bowman Capital, which is a new investor in the company, and includes corporate investors America Online Inc. (AOL), Enron Broadband Services (ENE), Inktomi Corp. (INKT), Real Networks (RNWK) and Sun Microsystems Inc. (SUNW). Existing venture partner Accel Partners also participated in the round.

The company has also received private backing from a team of private investors, including Andrew Ludwick, founder of SynOptics Communications, who was also an early investor in the company. This round of investment brings the total amount raised to approximately $35 million.

"FastForward not only has a market leading solution and corporate strategy, it also has a strong management team capable of executing on its vision," said Matthew Cowan, general partner with Bowman Capital.

"The combination makes FastForward a compelling opportunity for Bowman Capital as we look forward to the growth of the streaming media marketplace."