RealTime IT News

Beatnik Bags $30 Million

Beatnik Inc. Thursday announced that it has received $30 million in Q1 2000 funding from a group of technology, content and service companies.

Investors include Pacific Century CyberWorks, Media 100, Space Shower, Sun Microsystems Inc. and The MTVi Group.

"Strategic investments from these key firms will be used to support Beatnik's implementation of a technology platform to deliver interactive audio to the Web, cell phones, set top boxes and Sun's Java(TM) technology," said Lorraine Hariton, Beatnik's president and CEO.

"We are delighted to have these market visionaries join Beatnik's already impressive family of investors," said Patrizia Owen, Beatnik's chief financial officer. "Additionally, we welcome the return of significant early round investors including The Mayfield Fund and Entertainment Media Ventures to this latest round of funding."

Beatnik's software specializes in delivering high-quality audio over low-bandwidth connections. The company has also worked with several game makers to put CD-quality sound in a variety of software titles and consumer electronics devices.