Avail receives injection of capital, Espial deal
December 3, 2007
Avail Media, provider of IPTV and advanced media services to broadband operators, has closed the final tranche of a $25 million Series B equity round. First time investor Valhalla Partners joined Columbia Capital, Novak Biddle Venture Partners, and Pioneer Ventures in the round. The financing, along with $5 million in debt financing from a strategic investor and Silicon Valley Bank, brings the total capital raised this year to $30 million.
Meanwhile, Avail Media has also agreed to resell Espial’s Evo IPTV Service Platform to small and mid-sized operators in the North American market. The companies intend to jointly develop and share revenues for a range of new and differentiating IPTV applications that will leverage the strengths of their respective technologies. Avail Media revealed that nine North American service provider customers have already selected Espial’s Evo IPTV Service Platform as their middleware, pre-integrated with Avail Media’s managed video content services.