San Mateo, Calif. - Veodia, a provider of high-quality streaming video delivery services for businesses, announced on Monday that it has raised $8.3 million in its first round of venture capital financing, from Clearstone Venture Partners, the D.E. Shaw Group, and a group of angel investors led by Steven Berger.

San Mateo, Calif.-based Veodia offers MPEG-4 video broadcasting services for businesses, universities, religious institutions and professional bloggers.

The company will use the funds for product development and to hire additional staff.

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http://www.veodia.com