Seattle - GridNetworks, a developer of peer-to-peer video distribution software, announced on Monday that it has raised $9.5 million in its first round of venture capital financing, led by Panorama Capital.

Other backers included Cisco Systems and Comcast Interactive Capital.

Comcast (NASD: CMCSA), the nation's largest cable TV provider that also counts over 12.4 million broadband subscribers, also announced a strategic partnership with Seattle-based GridNetworks.

"The collaborative discussions with GridNetworks are timely as we are working hard with a number of technology companies, the IETF and other leaders in the field to improve the efficiency of P2P on ISP networks," said Comcast CTO Tony Werner.

"We are interested in the application of P2P concepts in a manner that puts the quality of the consumer experience first, and enables lawful distribution of copyrighted content while also efficiently utilizing the network."

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