Webcasting Services Provider ON24 Secures $8 Million

Authored by Mark Hefflinger on July 15, 2008 - 6:16am.

San Francisco - ON24, a provider of webcasting and virtual events services, announced on Tuesday that it has secured over $8 million in new equity and expansion capital financing.

U.S. Venture Partners, Canaan Partners, and Rho Ventures led the equity round, while Gold Hill Capital led the expansion capital financing.

San Francisco-based ON24 provides webcasting and virtual trade show services to enterprises, business-to-business publishers, government and life sciences organizations, and counts IBM, Motorola, Samsung, Cisco and the U.S. Dept. of Education among its customers.

The company will use the funds to accelerate global expansion of its sales, marketing and client services, and for further product development.

http://www.on24.com