Digital Video Tools Provider RGB Networks Raises $20 Million

Authored by Mark Hefflinger on April 15, 2008 - 7:27am.

Sunnyvale, Calif. - RGB Networks, a developer of digital video processing tools that help service providers deliver targeted video content, said on Monday that it has raised $20 million in a new round of funding, led by new investor Institutional Venture Partners.

Previous investors Accel Partners, Comcast Interactive Capital, Kleiner Perkins Caufield & Byers and Focus Ventures also participated.

Jef Graham, the CEO of RGB Networks, said that it has company will use the proce4eds for the "aggressive expansion of our staffing, product lines and market presence."

The company said that its valuation has nearly doubled to $200 million since mid-2006.