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.