New York - Narrowstep, a provider of Internet-based video content delivery services, announced on Tuesday that it has raised $7.1 million through a private placement.

Investors included Granahan McCourt Capital -- which is owned by the company's interim CEO, David McCourt -- and Roger L. Werner, a director of the company.

New York-based Narrowstep provides its services to sports organizations, government agencies, broadcasters and telco providers in Europe, the U.S. and Asia.

Customers include U.K. broadcaster ITV, London TV and the Torino 2006 Paralympic Winter Games.

The company expects to end the year with over 500 channels launched.

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