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Media E-Commerce Software Firm Navio Raises $25.4 Million

Authored by Mark Hefflinger on November 8, 2005 - 10:42am.
Cupertino, Calif. - Navio Systems, a developer of e-commerce technology used to distribute digital media, announced on Tuesday that it has raised $25.4 million in its second round of venture capital funding. WK Technology Fund led the investment round; VantagePoint Venture Partners and Add Partners also participated. Cupertino, Calif.-based Navio's software is used by music and media companies, mobile carriers and messaging providers to power digital commerce storefronts, promotional offers and other transactions, where the rights to content are managed separately from the contest itself. The investment will be used to add operational capacity, further development efforts, and expand into other countries.
tags: VC | Software | E-Commerce | Navio |