Burlingame, Calif. - BitGravity, a content delivery network optimized for video and rich media, announced on Tuesday that it has raised a $2.5 million seed round of funding, from Allen & Company and individual investors including Sling Media co-founder Blake Krikorian.

Burlingame, Calif. - BitGravity on Monday introduced its BG LiveBroadcast platform at the DEMO 08 conference, which the company bills as the first cost-effective, carrier-grade, live broadcasting solution that lets media companies broadcast live content over the Internet to millions of viewers in a high-quality, highly-reliable experience that rivals television." The company said the Flash-based streaming service streamlines the necessary computers to a single device, and more than halves the cost of current installations for content providers.

Burlingame, Calif. - BitGravity on Monday announced the launch of its new content delivery network optimized for video and rich media, and said it has signed over 50 customers, including Sling Media, the maker of content place-shifting devices. Burlingame, Calif.-based BitGravity is privately funded. "Media companies are experiencing a technology barrier; they know in theory they can build applications online in unforeseen ways, but in practice, the current CDN infrastructure is too limiting to realize their vision," said Perry Wu, CEO and co-founder of BitGravity.