Raleigh, N.C. - Inlet Technologies, a developer of video encoding technology, has raised $3 million in new funding from existing investors, The News & Observer reported.

The North Carolina-based company's backers include Technology Venture Partners, Telecommunications Development Fund and Capitol Broadcasting Corp.

Inlet has developed video technology that allows scaling from mobile video to HD, for applications including video-on-demand; professional, real-time streaming; digital archiving; and digital dailies.

Customers include HDNet, Akimbo, CinemaNow and Microsoft Studios.

The company will use the funds to expand its marketing and sales efforts.

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